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A cement manufacturer has supplied the following data:Tons of cement produced and sold295,000Sales ...

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A cement manufacturer has supplied the following data:Tons of cement produced and sold295,000Sales ...

A cement manufacturer has supplied the following data:

Tons of cement produced and sold	295,000
Sales revenue	$ 999,000
Variable manufacturing expense	$ 236,000
Fixed manufacturing expense	$ 325,000
Variable selling and administrative expense	$ 153,610
Fixed selling and administrative expense	$ 97,000
Net operating income	$ 187,390

The company's contribution margin ratio is closest to:

▸ 43.8%

▸ 61.0%

▸ 67.5%

▸ 18.8%

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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Just got PERFECT on my quiz

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