The term "relevant range" means the range over which: a. costs may fluctuate b. a particular cost formula is valid c. production may vary d. relevant costs are incurred The contribution margin ratio always increases when the: a. able expenses as a percentage of sales increase b. variable expenses as a percentage of sales decrease c. break-even point increases d. break-even point decreases The ratio of fixed expenses to the unit contribution margin is the a. break-even point in unit sales b. profit margin c. contribution margin ratio d. margin of safety The margin of safety is equal to: a. Sales-Net Income b. Sales - (Variable expenses/contribution margin) c. Sales - Fixed expenses/Contribution margin ratio) d. Sales - (Variable expenses + Fixed expenses) Paxton Corp, has provided the following data concerning its operations last month: Paxton Corp. is a retailing organization. The operating leverage is: a. 3 b. 8 c. 0.33 d. 5 The contribution margin ratio is: a. 12.5% b. 33.0% c. 25.0% d. 37.5%