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  3. the following is the corporation's income statemen

The following is the Corporation's Income Statement for last month:Sales $4,000,000 Less: variable expenses $2,800,000...

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Accounting

The following is the Corporation's Income Statement for last month:Sales $4,000,000 Less: variable expenses $2,800,000 Contribution margin $1,200,000 Liss: fixed expenses $720,000 Net income $480,000. The company has no beginning or ending inventories. A total of 80,000 units were produced and sold last month. What is the company's contribution margin ratio?

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