Cullumber Electrical Products serves both residential and commercial clients. Annual financial information for Cullumber is as...

Transcribed Image Text:

Cullumber Electrical Products serves both residential and commercial clients. Annual financial information for Cullumber is as follows: Sales Revenues Variable Costs Fixed Costs Commercial $988,000 247,000 Residential Total $688,000 $1,676,000 172,000 419,000 412,500 All variable costs are product costs, and the total fixed costs of $412,500 are made up of fixed product costs of $100,560 and selling and general expenses of $311,940. What is Cullumber Electrical's contribution margin in dollars and as a percentage? (Round percentage answer to 2 decimal places, e.g. 52.75%.) Contribution margin in dollars Contribution margin as a percentage $ % What is Cullumber Electrical's gross profit margin in dollars and as a percentage? (Round percentage answer to 2 decimal places, e.g. 52.75%) Cullumber Electrical Products serves both residential and commercial clients. Annual financial information for Cullumber is as follows: Sales Revenues Variable Costs Fixed Costs Commercial $988,000 247,000 Residential Total $688,000 $1,676,000 172,000 419,000 412,500 All variable costs are product costs, and the total fixed costs of $412,500 are made up of fixed product costs of $100,560 and selling and general expenses of $311,940. What is Cullumber Electrical's contribution margin in dollars and as a percentage? (Round percentage answer to 2 decimal places, e.g. 52.75%.) Contribution margin in dollars Contribution margin as a percentage $ % What is Cullumber Electrical's gross profit margin in dollars and as a percentage? (Round percentage answer to 2 decimal places, e.g. 52.75%)

Answer rating: 100% (QA)

To calculate the contribution margin in both dollars and as a percentage well use the figures for Sales Revenue and Variable Costs from the image prov... View the full answer