Question: Please write out correct answer and whether its A, B, C or D. Thank you. Instant Image Inc., has the following variable costing Income Statement:

Please write out correct answer and whether its A, B, C or D. Thank you.

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): o 25% O 37% O 59% O 63%

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