Question: Exercise 5 - 1 ( Algo ) Computing the CM Ratio and Variable Expense Ratio [ LO 5 - 1 ] Last month when Holiday

Exercise 5-1(Algo) Computing the CM Ratio and Variable Expense Ratio [LO5-1]
Last month when Holiday Creations, Incorporated, sold 36,000 units, its sales, variable expenses, and fixed expenses were $144,000,
$103,680, and $38,500, respectively.
Required:
What is the company's contribution margin (CM) ratio?
What is the company's variable expense ratio?
Note: Do not round intermediate calculations.
Exercise 5-1(Algo) Computing the CM Ratio and Variable Expense Ratio [LO5-1]

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