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Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 21,500 12,500 $ 9,000 7,200 1,800 Required: What is the contribution margin ratio? (Round your answer to 2 decimal places.)

Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Net operating income $ 21,500 12,500 $ 9,000 7,200 1,800 Required: What is the contribution margin ratio? (Round your answer to 2 decimal places.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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ed Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the rel range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Net operating income 69 $ 21,500 12,500 9,000 7,200 1,800 Required: What is the contribution margin ratio? (Round your answer to 2 decimal places.)
Transcribed Image Text:ed Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the rel range of production is 500 units to 1,500 units): Sales Variable expenses Contribution margin Fixed expenses Net operating income 69 $ 21,500 12,500 9,000 7,200 1,800 Required: What is the contribution margin ratio? (Round your answer to 2 decimal places.)
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