a. Young Company budgets sales of $1,120,000, fixed costs of $55,400, and variable costs of $246,400. What is the contribution margin ratio for Young Company? % b. If the contribution margin ratio for Martinez Company is 58%, sales were $561,000, and fixed costs were $234,270, what was the operating income?

a. Young Company budgets sales of $1,120,000, fixed costs of $55,400, and variable costs of $246,400. What is the contribution margin ratio for Young Company? % b. If the contribution margin ratio for Martinez Company is 58%, sales were $561,000, and fixed costs were $234,270, what was the operating income?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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