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QUESTION
Bloomington Corporation reported the following on their contribution format income statement: Sales (12,000 unites) $175,000 Less: Variable Expenses...
Bloomington Corporation reported the following on their contribution format income statement:
Sales (12,000 unites)$175,000
Less: Variable Expenses$100,000
Contribution Margin$75,000
Less: Fixed Expenses$62,000
Net Operating Income$12,500
What is the contribution margin ratio?
