10. The income statement for Jeeves Ltd for 2015 is shown below: Sales (100 000 units) Variable cost Contribution margin Fixed costs Net Income $40 000 $24 000 $16 000 $12 000 $ 4000 What is the contribution margin ratio? A 10% B. 30% C. 40% D. 60% 11. What is the difference between total sales in dollars and total variable expenses called? A Net operating income B. Net profit C. The gross margin D. The contribution margin 12. How is the margin of safety computed? A Break-even total sales B. Total sales - Break-even sales