If the cutting edge sells ice skates. total sales are $845,000, total variable expenses are $245,050 and total fixed expenses are $302,000. the variable expense ratio is: 29%.
Using this formula
Variable expense ratio=Total variable expense /Total sales
Let plug in the formula
Variable expense ratio=$245,050/ $845,000
Variable expense ratio=0.29×100
Variable expense ratio=29%
Therefore If the cutting edge sells ice skates. total sales are $845,000, total variable expenses are $245,050 and total fixed expenses are $302,000. the variable expense ratio is: 29%.
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