Question: please explains an show correct answer Instant Image Inc., has the following variable costing Income Statement: Sales revenue $70,000 Variable costs 44,000 Contribution margin $26,000

please explains an show correct answer

Instant Image Inc., has the following variable costing Income Statement: Sales revenue $70,000 Variable costs 44,000 Contribution margin $26,000 Fixed costs 15,000 Net income $11,000 The markup percentage on variable cost is (approximately): 25% 37% 59% 63% Dreves

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