Sam Company provides carpet cleaning services to commercial and residential customers. Using the data below, determine the contribution margin ratio for each business segment, rounded to two decimal places: Commercial Residential Total Service Revenue $54,600 $83,200 $137,800 Variable Costs 21,840 31,200 53,040 Contribution Margin 32,760 52,000 84,760 Fixed Costs 30,000 Operating Income $54,760 Select the formula, then, calculate the contribution margin ratio for each business segment. (Round to two decimal places long dash—the nearest hundredth percentlong dash—X.XX%.) Part 2 Contribution margin ÷ Service revenue = Contribution margin ratio Commercial ÷ = %

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Part 1 Formula and Calculations The formula to calculate the contribution marg... View the full answer