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Question - In 2018, X Company expects to produce and sell 60,000 units of its only product for $33.98. The following are budgeted variable costs per unit:

Direct materials - $4.12

Direct labor - 5.57

Variable overhead - 5.91

Variable selling and administrative - 5.95

Total - 21.55

Budgeted fixed overhead for 2018 is $168,000, and budgeted fixed selling and administrative expenses are $180,000.

What is X Company's budgeted contribution margin rate for 2018?

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