Operations of Traveler Company for the year produced an M/S ratio of 20% and a C/M ratio

Question:

Operations of Traveler Company for the year produced an M/S ratio of 20% and a C/M ratio of 60%. Fixed cost amounted to $30,000.
Required:
Compute the following:
(1) Break-even sales
(2) The amount of profit
(3) The
Contribution Margin
Contribution margin is an important element of cost volume profit analysis that managers carry out to assess the maximum number of units that are required to be at the breakeven point. Contribution margin is the profit before fixed cost and taxes...