Question - In 2018, X Company expects to produce and sell 60,000 units of its only product for $33.98. The following are budgeted variable costs per unit:
Direct materials - $4.12
Direct labor - 5.57
Variable overhead - 5.91
Variable selling and administrative - 5.95
Total - 21.55
Budgeted fixed overhead for 2018 is $168,000, and budgeted fixed selling and administrative expenses are $180,000.
What is X Company's budgeted contribution margin rate for 2018?