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What is the contribution margin ratio

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Reference no: EM133254054

Parsons Company makes calendars. Information on cost per unit is as follows:

Direct materials

$2.20

Direct labor

$1.50

Variable overhead

$1.20

Variable marketing expense

$0.70

Fixed marketing expense totaled $16,000 and fixed administrative expense totaled $47,000. The price per calendar is $12. What is the contribution margin ratio?

Reference no: EM133254054

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