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What must the contribution margin ratio be if the company

CVP: What-If Analysis

Last year, Mayes Company had a contribution margin of 30 percent. This year, fixed expenses are expected to remain at $120,000 and sales are expected to be $550,000, which is 10 percent higher than last year.

Required:

What must the contribution margin ratio be if the company wants to increase net income by $15,000 this year?

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