if sales are $811,000, variable cost are 65% b. $731,700 c. $543,800 d, $384,200

Question

if sales are $811,000, variable cost are 65% b. $731,700 c. $543,800 d, $384,200 32. MC.04-100.Algo (Algorithmic) If sales are $811,000, variable costs are 65% of sales, and operating income is $244,000, what is the contribution margin ratio? 3996 6596 6196 35% 33. MC.02-63 The Thomlin Company forecasts that total overhead for the current year will be $15,000,000 with 300,000 total machine hours. Year to date, the actual overhead is $16,000,000 and the actual machine hours are 330,000 hours. If the Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is a. $500,000 overapplied b. $1,000,000 overapplied c. $1,000,000 underapplied 12/12/201 12/12/2017, 2:37 PM

Explanation / Answer

Contribution margin ratio = Contribution margin ÷ Sales = 283,850÷811,000 = 0.35 = 35%

Answer is 35%

Sales $811,000 Less: Variable costs (65% of sales) 527,150 Contribution margin $283,850

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