Assume the following financial data pertains to a certain single-product lodging business: Room Sales - $400,000 Total Variable - $260,000 Costs Contribution Margin - $140,000 Total Fixed Costs - $ 76,000 IBIT - $ 64,000 Based on the financial data provided, the contribution margin percentage is __________ percent
Assume the following financial data pertains to a certain single-product lodging business: Room Sales - $400,000 Total Variable - $260,000 Costs Contribution Margin - $140,000 Total Fixed Costs - $ 76,000 IBIT - $ 64,000 Based on the financial data provided, the contribution margin percentage is __________ percent
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Assume the following financial data pertains to a certain single-product lodging business:
Room Sales - $400,000
Total Variable - $260,000
Costs Contribution Margin - $140,000
Total Fixed Costs - $ 76,000
IBIT - $ 64,000
Based on the financial data provided, the contribution margin percentage is __________ percent.
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