Question: Current Attempt in Progress Skysong has determined the contribution margin ratio of a product to be 3 0 % . Its selling price is $

Current Attempt in Progress
Skysong has determined the contribution margin ratio of a product to be 30%. Its selling price is $30, while its costs consist of two variable costs and one fixed cost. The sole fixed cost is a selling and administrative cost. The variable selling and administrative cost is $2.10/unit.
What is the variable manufacturing cost per unit? (Round answer to 2 decimal places, e.g.15.25.)
Variable manufacturing cost
$ per unit
What is the gross margin of one unit of this product if there are no fixed manufacturing costs? (Round answer to 2 decimal places, e.g.15.25.)
Gross margin $ per unit
What is the gross margin percentage for this product?
Gross margin %
Current Attempt in Progress Skysong has

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!