In September, Crane Industries sold 800 units of product. The average sales price was $40. During the month, fixed costs were $6,504 and variable costs were 70% of sales. (a) Determine the contribution margin in dollars, per unit, and as a ratio. (Round Contribution margin to 0 decimal places, e.g. 5,275. Other all answers to 2 decimal places, e.g. 52.75.) Contribution margin (in dollars) $ Unit contribution margin Contribution margin ratio

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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In September, Crane Industries sold 800 units of product. The average sales price was $40. During the month, fixed costs were $6,504
and variable costs were 70% of sales.
(a)
Determine the contribution margin in dollars, per unit, and as a ratio. (Round Contribution margin to 0 decimal places, e.g.
5,275. Other all answers to 2 decimal places, e.g. 52.75.)
Contribution margin (in dollars) $
Unit contribution margin
Contribution margin ratio
$
Transcribed Image Text:In September, Crane Industries sold 800 units of product. The average sales price was $40. During the month, fixed costs were $6,504 and variable costs were 70% of sales. (a) Determine the contribution margin in dollars, per unit, and as a ratio. (Round Contribution margin to 0 decimal places, e.g. 5,275. Other all answers to 2 decimal places, e.g. 52.75.) Contribution margin (in dollars) $ Unit contribution margin Contribution margin ratio $
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