a. Imelda Company budgets sales of $1,800,000, fixed costs of $394,000, and variable costs of $1,116,000. What

Question:

a. Imelda Company budgets sales of $1,800,000, fixed costs of $394,000, and variable costs of $1,116,000. What is the contribution margin ratio for Imelda Company?

b. If the contribution margin ratio for Vera Company is 42%, sales were $2,500,000, and fixed costs were $590,000, what was the income from operations?

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