Kelchner Corporation has provided the following contribution format income statement.All questions concern situations that are within the relevant range. The contribution margin ratio is closest to:

A) 67%
B) 40%
C) 33%
D) 60%

Contribution Margin Ratio

The percentage of sales revenue remaining after variable costs are deducted, indicating the portion contributing towards fixed costs and profit.

Contribution Format

An income statement format that separates fixed and variable costs to highlight the contribution margin.

Income Statement

A summary of a company's financial performance over a certain period, detailing revenue, expenses, and profits or losses, revealing the company's ability to generate profit.