Exercise 5-1 (Algo) Computing the CM Ratio and Variable Expense Ratio [LO5-1] Last month when Holiday Creations, Incorporated, sold 38,000 units, its sales, variable expenses, and fixed expenses were $152.. $107,920, and $38,200, respectively. Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the company's variable expense ratio? Note: Do not round intermediate calculations. 1. Contribution margin ratio 2 Variable expense ratio % %
Exercise 5-1 (Algo) Computing the CM Ratio and Variable Expense Ratio [LO5-1] Last month when Holiday Creations, Incorporated, sold 38,000 units, its sales, variable expenses, and fixed expenses were $152.. $107,920, and $38,200, respectively. Required: 1. What is the company's contribution margin (CM) ratio? 2. What is the company's variable expense ratio? Note: Do not round intermediate calculations. 1. Contribution margin ratio 2 Variable expense ratio % %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Exercise 5-1 (Algo) Computing the CM Ratio and Variable Expense Ratio [LO5-1]
Last month when Holiday Creations, Incorporated, sold 38,000 units, its sales, variable expenses, and fixed expenses were $152,000,
$107,920, and $38,200, respectively.
Required:
1. What is the company's contribution margin (CM) ratio?
2. What is the company's variable expense ratio?
Note: Do not round intermediate calculations.
1. Contribution margin ratio
2 Variable expense ratio
%
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F53e1c87b-2374-454d-bb95-e0f6192d5dc8%2F688fa908-897e-48cd-a42f-805febaa6008%2Fovpimx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 5-1 (Algo) Computing the CM Ratio and Variable Expense Ratio [LO5-1]
Last month when Holiday Creations, Incorporated, sold 38,000 units, its sales, variable expenses, and fixed expenses were $152,000,
$107,920, and $38,200, respectively.
Required:
1. What is the company's contribution margin (CM) ratio?
2. What is the company's variable expense ratio?
Note: Do not round intermediate calculations.
1. Contribution margin ratio
2 Variable expense ratio
%
%
![The 2023 standard deduction is $13,850 for single filers and those married filing separately, $27,700 for those married
filing jointly, and $20,800 for heads of household.
Required information
[The following information applies to the questions displayed below.]
Amelie, a retired physician, is 66 years old. Determine her standard deduction in 2023 under the following scenarios.
a. Amelie is married to Roget, age 52, and they file jointly.
Standard deduction](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F53e1c87b-2374-454d-bb95-e0f6192d5dc8%2F688fa908-897e-48cd-a42f-805febaa6008%2F84ucqoa_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The 2023 standard deduction is $13,850 for single filers and those married filing separately, $27,700 for those married
filing jointly, and $20,800 for heads of household.
Required information
[The following information applies to the questions displayed below.]
Amelie, a retired physician, is 66 years old. Determine her standard deduction in 2023 under the following scenarios.
a. Amelie is married to Roget, age 52, and they file jointly.
Standard deduction
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