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The following information for the past year for the Blaine Corporation has been provided: Fixed costs: ​ Manufacturing $110,000 Marketing 16,000 Administrative 20,000 Variable costs: ​ Manufacturing $115,000 Marketing 22,000 Administrative 42,000During the year, the company produced and sold 10,000 units of product at a selling price of $18.32 per unit. There was no beginning inventory of product at the beginning of the year. What is the contribution margin ratio for Blaine Corporation (round to 1 decimal)?     -3376.2%     2.3%     -77.4%     79.7%

The following information for the past year for the Blaine Corporation has been provided: Fixed costs: ​ Manufacturing $110,000 Marketing 16,000 Administrative 20,000 Variable costs: ​ Manufacturing $115,000 Marketing 22,000 Administrative 42,000During the year, the company produced and sold 10,000 units of product at a selling price of $18.32 per unit. There was no beginning inventory of product at the beginning of the year. What is the contribution margin ratio for Blaine Corporation (round to 1 decimal)?     -3376.2%     2.3%     -77.4%     79.7%

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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  1. The following information for the past year for the Blaine Corporation has been provided:

    Fixed costs: ​
    Manufacturing $110,000
    Marketing 16,000
    Administrative 20,000
    Variable costs: ​
    Manufacturing $115,000
    Marketing 22,000
    Administrative 42,000
    During the year, the company produced and sold 10,000 units of product at a selling price of $18.32 per unit. There was no beginning inventory of product at the beginning of the year.

    What is the contribution margin ratio for Blaine Corporation (round to 1 decimal)?

       
    -3376.2%
       
    2.3%
       
    -77.4%
       
    79.7%
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