A pants maker is designing a new line of pants called the Redbird. The pants will sell for $335 per pair and cost $261.30 per pair in variable costs to make.
(1)Compute the contribution margin per pair. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Contribution margin?
(2) Compute the contribution margin ratio. (Round your intermediate calculation to 2 decimal places. Omit the "%" sign in your response.)
Contribution margin ratio?