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Current Attempt in Progress Blossom Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $50 throughout the country to loyal alumni of over 3,500 schools. Blossom's variable costs are 40% of sales; fixed costs are $118,000 per month. (a1) Your answer is correct. Calculate contribution margin ratio. (Round ratio to 2 percentage places, e.g. 0.38-38%)

Current Attempt in Progress Blossom Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $50 throughout the country to loyal alumni of over 3,500 schools. Blossom's variable costs are 40% of sales; fixed costs are $118,000 per month. (a1) Your answer is correct. Calculate contribution margin ratio. (Round ratio to 2 percentage places, e.g. 0.38-38%)

FINANCIAL ACCOUNTING
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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(a2) Your answer is incorrect. What is Blossom's annual breakeven point in sales dollars? (Use the rounded contribution margin ratio calcuated in the previous part to compute breakeven sales.) Breakeven sales
Transcribed Image Text:(a2) Your answer is incorrect. What is Blossom's annual breakeven point in sales dollars? (Use the rounded contribution margin ratio calcuated in the previous part to compute breakeven sales.) Breakeven sales
Current Attempt in Progress Blossom Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $50 throughout the country to loyal alumni of over 3,500 schools. Blossom's variable costs are 40% of sales; fixed costs are $118,000 per month. (a1) Your answer is correct. Calculate contribution margin ratio. (Round ratio to 2 percentage places, e.g. 0.38 - 38%.) Contribution margin ratio 60 %
Transcribed Image Text:Current Attempt in Progress Blossom Monograms sells stadium blankets that have been monogrammed with high school and university emblems. The blankets retail for $50 throughout the country to loyal alumni of over 3,500 schools. Blossom's variable costs are 40% of sales; fixed costs are $118,000 per month. (a1) Your answer is correct. Calculate contribution margin ratio. (Round ratio to 2 percentage places, e.g. 0.38 - 38%.) Contribution margin ratio 60 %
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