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What would be Jo Company contribution margin ratio

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Reference no: EM133008684

Question - Jo Company sells its only product for P 60 per unit and incurs the following variable costs per unit:

Direct material P 16

Direct labor 12

Manufacturing overhead 7

Total variable manufacturing overhead P 35

Selling expenses 5

Total variable costs P40

Jo's annual fixed costs are P 880,000. If prime costs increased by 20% and all other values remained the same, what would be Jo Company's contribution margin ratio (to the nearest whole percentage)?

Reference no: EM133008684

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