The following are last year's revenues and total costs for X Company:
|
Revenue
|
$2,199,120
|
|
Direct materials
|
289,740
|
|
Direct labor [all variable]
|
328,020
|
|
Variable overhead
|
283,140
|
|
Fixed overhead
|
196,020
|
|
Variable selling and administrative
|
332,640
|
|
Fixed selling and administrative
|
188,760
|
What was X Company's contribution margin rate?