Question: Answer fully and provide any formulas used, thanks Exercise 3-38 Contribution margin ratio Martinez Company incurs annual fixed costs of $300,000. Variable costs for Martinez's

Answer fully and provide any formulas used, thanks

Exercise 3-38 Contribution margin ratio Martinez Company incurs annual fixed costs of $300,000. Variable costs for Martinez's product are $42 per unit, and the sales price is $70 per unit. Martinez desires to earn a profit of $120,000. Required Use the contribution margin ratio approach to determine the sales volume in dollars and units required to earn the desired profit. LO 3-1

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