Contribution margin equals $\_\_\_\_\_\_\_\_\_$blank.

multiple choice $1$

fixed cost minus variable cost

sales minus variable cost minus fixed cost

sales minus fixed cost

sales minus variable cost

Knowledge Check $02$

Old Lyme Corporation currently sells its products for $$50$ per unit. The company$$s variable costs are $$20$ per unit. Fixed expenses amount to a total of $$5,000$ per month. What is the company$$s variable expense ratio?

multiple choice $2$

$100\%$

$60\%$

$40\%$

$20\%$

Knowledge Check $03$

Old Lyme Corporation currently sells its products for $$50$ per unit. The company$$s variable costs are $$20$ per unit. Fixed expenses amount to a total of $$5,000$ per month. What is the company$$s contribution margin ratio?

multiple choice $3$

$100\%$

$40\%$

$20\%$

$60\%$