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Find the contribution margin ratio for the current year

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Question - Evergreen Corporation manufactures circuit boards and is in the process of preparing next year's budget. The pro forma income statement for the current year is presented below.

Sales $3,500,000

Cost of sales:

Direct Material $500,000

Direct labor 250,000

Variable Overhead 275,000

Fixed Overhead 600,000 1,625,000

Gross Profit $1,875,000

Selling/Admin. Exp.

Variable 750,000

Fixed 250,000 1,000,000

Operating Income $875,000

Required - Find the contribution margin ratio for the current year?

Reference no: EM132864066

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