Kingston Company sells its product for $200 per unit. The company's accountant provided the following cost information:
Manufacturing costs: $25,000 (40% of sales)
Selling costs: $10,000 (20% of sales)
Administrative costs: $15,000 (10% of sales)
What is Kingston Company's contribution margin ratio?
a) 30%
b) 15%
c) 35%
d) 20%
