The following are last year's revenues and total costs for X Company:
|
Revenue
|
$1,747,310
|
|
Direct materials
|
255,730
|
|
Direct labor [all variable]
|
300,670
|
|
Variable overhead
|
300,135
|
|
Fixed overhead
|
156,220
|
|
Variable selling and administrative
|
285,155
|
|
Fixed selling and administrative
|
160,500
|
What was X Company's contribution margin rate?