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The following totals are used to create a CVP Income Statement for Frederick Company for...

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The following totals are used to create a CVP Income Statement for Frederick Company for FY2020: Frederick Company Selected Financial Figures For the Year Ended 12/31/20 Sales (100 units) $10,000 Variable Costs: Frederick Company utilizes a JIT production system and there are no Raw Materials, Work-in-Process or Finished Goods inventories. Use this information to determine FY 2020 Contribution Margin Ratio. Enter percentage to one decimal place. (example enter 35.5% as 35.5 )

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