Knox Corp has a selling price of $14, variable costs of $11.34 per unit, and fixed...
Knox Corp has a selling price of $14, variable costs of $11.34 per unit, and fixed costs of $25,500. If Knox sells 9,500 units, the contribution margin ratio will equal: Multiple Choice 19.00% 11.12% 7.88% 252.70%
Homework Answers
Contribution margin ratio = Contribution Margin / Selling Price *100
Contribution Margin = Selling Price - Variable Cost
= $14 - $11.34
= $2.66
Contribution margin ratio = $2.66 / $14 *100
= 19%
So correct answer is option (1) or 19%
Add Answer to:
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