Exercise 5-1 (Algo) Computing the CM Ratio and Variable Expense Ratio [LO5-1] Last month when Holiday Creations, Incorporated, sold 38,000 units, its sales, variable expenses, and fixed expenses were $152.. $107,920, and $38,200, respectively. Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the company's variable expense ratio? Note: Do not round intermediate calculations. 1. Contribution margin ratio 2 Variable expense ratio % %
Exercise 5-1 (Algo) Computing the CM Ratio and Variable Expense Ratio [LO5-1] Last month when Holiday Creations, Incorporated, sold 38,000 units, its sales, variable expenses, and fixed expenses were $152.. $107,920, and $38,200, respectively. Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the company's variable expense ratio? Note: Do not round intermediate calculations. 1. Contribution margin ratio 2 Variable expense ratio % %
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 19CE
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