Sooner Industries charges a price of $111 and has a fixed cost of $414,000. Next year, Sooner expects to sell 16,600 units and make an operating income of $153,000. What is the contribution margin ratio? Express the contribution margin ratio as a percentage, rounded to two decimal places.

Sooner Industries charges a price of $111 and has a fixed cost of $414,000. Next year, Sooner expects to sell 16,600 units and make an operating income of $153,000. What is the contribution margin ratio? Express the contribution margin ratio as a percentage, rounded to two decimal places.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

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Please solve the Accounting question

Sooner Industries charges a price of $111 and has a
fixed cost of $414,000. Next year, Sooner expects to
sell 16,600 units and make an operating income of
$153,000.
What is the contribution margin ratio? Express the
contribution margin ratio as a percentage, rounded
to two decimal places.

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