? ? coopenvell ACCT 202 Routh, Summer 2018 (online) Mitchell Mundy & 6/25/18 5:1

Question

? ? coopenvell ACCT 202 Routh, Summer 2018 (online) Mitchell Mundy & 6/25/18 5:14 PM Test: Exam (Module 3-ch. 6, 7) MyLab Accounti Time Limit: 02:00:00 Submit Test stion: 2 pts 11 of 12 (7 This Test: 43 pts Fixed costs Manufacturing 5110.000 24,000 25,000 O Main Menu Variable costs 35m 32s 26,000 38,000 34m 49s During the year, the company produced and sold 70,000 units of product at a selling price of $18 28 per uni. There was no beginning of the year What is the contribution margin ratio for Blaine Corporation (round to 1 decimal? A. 85 7% ? B. 733% ° C. 855% OD, 124% 3m 26s to select your answer 5:14 PM 4x 6/25/2018 ? ^

Explanation / Answer

Answer is Option A Contribution Margin Ratio=Contribution/Sales*100 Seling Price=18.28 per unit Units Sold=70000 Selling Price/Sales value=70000*18.28=1279600 Contribution =Sales-Variable cost Total Variable Cost:- $ Manufacturing                    119,000.00 Marketing                       26,000.00 Administrative                       38,000.00 Total Variable Cost                    183,000.00 Contribution =1279600-183000=1096600 Contribution margin Ratio=1096600/1279600*100=85.70%

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