Problem - The Bell Division of ABC Company reported the following information for March:
selling price per unit ........................... $25
variable costs per unit .......................... $12
turnover ......................................... 2.00
residual income .................................. $180,000
margin ........................................... 22%
units sold ....................................... 40,000
Calculate the margin the Bell Division needed to earn in March in order for the residual income in March to be equal to $310,000. Enter your answer as a number followed by the % without a space in between (i.e., 10%).