A cement manufacturer has supplied the following data: Tons of cement produced and sold Sales revenue Variable manufacturing expense Fixed manufacturing expense Variable selling and administrative expense Fixed selling and administrative expense Net operating income 240,000 $ 944,000 $ 225,000 $ 292,000 $ 105,400 $ 86,000 $ 235,600 The company's contribution margin ratio is closest to:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A cement manufacturer has supplied the following data:

- Tons of cement produced and sold: 240,000
- Sales revenue: $944,000
- Variable manufacturing expense: $225,000
- Fixed manufacturing expense: $292,000
- Variable selling and administrative expense: $105,400
- Fixed selling and administrative expense: $86,000
- Net operating income: $235,600

The company's contribution margin ratio is closest to:
Transcribed Image Text:A cement manufacturer has supplied the following data: - Tons of cement produced and sold: 240,000 - Sales revenue: $944,000 - Variable manufacturing expense: $225,000 - Fixed manufacturing expense: $292,000 - Variable selling and administrative expense: $105,400 - Fixed selling and administrative expense: $86,000 - Net operating income: $235,600 The company's contribution margin ratio is closest to:
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