{"id":73,"date":"2021-01-26T22:00:22","date_gmt":"2021-01-26T22:00:22","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/?post_type=chapter&#038;p=73"},"modified":"2023-03-08T18:30:28","modified_gmt":"2023-03-08T18:30:28","slug":"contribution-margin","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/chapter\/contribution-margin\/","title":{"raw":"Contribution Margin","rendered":"Contribution Margin"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Outcomes<\/h3>\r\n<ul>\r\n \t<li>Calculate contribution margin and contribution margin ratio<\/li>\r\n<\/ul>\r\n<\/div>\r\n<strong>Cost volume profit (CVP) analysis<\/strong> is a managerial accounting technique used to determine how changes in sales volume, variable costs, fixed costs, and\/or selling price per unit affect a business\u2019s operating income. The focus may be on a single product or on a sales mix of two or more different products.\r\n\r\nWe will make the following assumptions as we perform CVP analysis in this section.<img class=\"size-medium wp-image-777 alignright\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5469\/2021\/01\/17150454\/tom-hermans-9BoqXzEeQqM-unsplash-300x200.jpg\" alt=\"Multiple books on a cart.\" width=\"300\" height=\"200\" \/>\r\n<ol>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\">All costs are categorized as either fixed or variable.<\/li>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\">Sales price per unit, variable cost per unit and total fixed cost are constant.<\/li>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\">The only factors that affect costs are changes in business activity.<\/li>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\">All units produced are sold.<\/li>\r\n<\/ol>\r\nIn addition, we\u2019ll be focusing on the following:\r\n<ul>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Selling price<\/strong> - the amount a customer pays to acquire a product or service<\/li>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Cost<\/strong> - the variable and fixed expenses involved in producing or selling a product or service<\/li>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Volume<\/strong> - the number of units or the amount of service sold<\/li>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Operating<\/strong> <strong>income<\/strong> (also referred to as Profit) - the difference between the selling price of a product (or service) minus the costs to produce (or provide) it<\/li>\r\n<\/ul>\r\nLet\u2019s take a look at a simple CVP example based on our BlankBooks Company producing an estimated 2,500 units in July:\r\n<div align=\"left\">\r\n<table class=\"fin-table acctstatement fw\"><caption>BlankBooks, Inc.\r\nCVP Analysis\r\nFor the month ending July 31, 20XX<\/caption>\r\n<tbody>\r\n<tr>\r\n<th class=\"r\" scope=\"col\"><\/th>\r\n<th class=\"r\" scope=\"col\">Units<\/th>\r\n<th class=\"r\" scope=\"col\">$\/Unit<\/th>\r\n<th class=\"r\" scope=\"col\">Total<\/th>\r\n<\/tr>\r\n<\/tbody>\r\n<tbody>\r\n<tr>\r\n<td>Sales<\/td>\r\n<td class=\"r\">2,500<\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a010.00<\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a025,000.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Variable costs<\/td>\r\n<td class=\"r\">2,500<\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a08.30<\/td>\r\n<td class=\"r\">20,750.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Contribution Margin<\/td>\r\n<td><\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01.70<\/td>\r\n<td class=\"r line-single\"><span class=\"u-sr-only\">Single Line<\/span>4,250.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Fixed costs<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a03,400.00<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Operating income<\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0850.00<span class=\"u-sr-only\">Double line<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<tr>\r\n<td>CM ratio<\/td>\r\n<td><\/td>\r\n<td class=\"r\">17.00%<\/td>\r\n<td><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<h2>Contribution Margin<\/h2>\r\nThe contribution margin is calculated at both the unit level and the overall level.\r\n<ol>\r\n \t<li><strong>Unit contribution margin<\/strong> = selling price per unit \u2013 variable cost per unit<\/li>\r\n \t<li><strong>Total contribution margin<\/strong> = total sales \u2013 total variable costs<\/li>\r\n<\/ol>\r\nManagers monitor a company\u2019s sales volume to track whether it is sufficient to cover, and hopefully exceed, fixed costs for a period, such as a month. Contribution margin is the dollar sales amount available to apply (contribute) toward paying fixed costs during the period. In addition, whatever is left over after all fixed costs have been covered is profit, so contribution margin also contributes to profit\u2014specifically, what we call<strong> operating income<\/strong>. We\u2019ll talk more about operating income in a later section.\r\n\r\nHere is a quick overview of the contribution margin concept:\r\n\r\n<iframe src=\"\/\/plugin.3playmedia.com\/show?mf=6352529&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=pm6Eo9qiUIY&amp;video_target=tpm-plugin-i8qy1zgt-pm6Eo9qiUIY\" width=\"800px\" height=\"450px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe>\r\n\r\nYou can view the <a href=\"https:\/\/oerfiles.s3.us-west-2.amazonaws.com\/Managerial+Accounting\/Transcripts\/InvestopediaVideoContributionMargin_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for \"Investopedia Video: Contribution Margin\" here (opens in new window)<\/a>.\r\n<h3>The formulas for contribution margin<\/h3>\r\n<ol>\r\n \t<li>Unit contribution margin<\/li>\r\n<\/ol>\r\n<p style=\"padding-left: 60px;\">[latex]\\text{selling price of one unit \u2013 variable cost of one unit}=\\text{unit contribution margin}[\/latex]<\/p>\r\n<p style=\"padding-left: 60px;\">[latex]$19.99-$12.60=$7.39[\/latex]<\/p>\r\n\r\n<ol start=\"2\">\r\n \t<li>Total contribution margin (at sales volume of 1,137 units)<\/li>\r\n<\/ol>\r\n<p style=\"padding-left: 60px;\">[latex]\\text{total sales \u2013 total variable costs}=\\text{total contribution margin}[\/latex]<\/p>\r\n<p style=\"padding-left: 60px;\">[latex]$22,728.63-$14,325.86=$8,402.77[\/latex]<\/p>\r\n<p style=\"padding-left: 60px;\">Also, the contribution margin per unit * volume = $7.39 X 1,137 = $8,402.43 (we see a slight difference due to errors that arise from rounding)<\/p>\r\n<p style=\"padding-left: 60px;\">Contribution margin may also be expressed as a ratio, showing the percentage of sales that is available to pay fixed costs. The calculation is simply the contribution margin divided by sales.<\/p>\r\n<p style=\"padding-left: 60px;\">The same percentage results regardless of whether total or per unit amounts are used.<\/p>\r\n\r\n<ol start=\"3\">\r\n \t<li>Unit contribution margin ratio =<\/li>\r\n<\/ol>\r\n<p style=\"padding-left: 60px;\">[latex]\\dfrac{\\text{selling price of one unit - variable cost of one unit}}{\\text{selling price of one unit}}=\\dfrac{\\text{unit contribution margin}}{\\text{unit sales price}}[\/latex]<\/p>\r\n<p style=\"padding-left: 60px;\">[latex]\\dfrac{$19.99-$12.60}{$19.99}=0.3696848[\/latex]\u2026 rounded to the nearest thousandth = 0.3697 X 100<\/p>\r\n<p style=\"padding-left: 60px;\">Expressed as a percentage: 0.3697 X 100 = 36.97%<\/p>\r\n\r\n<ol start=\"4\">\r\n \t<li>Total contribution margin ratio =<\/li>\r\n<\/ol>\r\n<p style=\"padding-left: 60px;\">[latex]\\dfrac{\\text{total sales \u2013 total variable costs}}{\\text{total sales}}=\\dfrac{\\text{contribution margin}}{\\text{total sales}}[\/latex]<\/p>\r\n<p style=\"padding-left: 60px;\">[latex]\\dfrac{$22,728.63 - $14,325.86}{$22,728.63}=0.3696998[\/latex]\u2026 rounded to the nearest hundredth = 0.3697<\/p>\r\n<p style=\"padding-left: 60px;\">0.3697 X 100 = 36.97%<\/p>\r\nThe higher the percentage, the more of each sales dollar is available to pay fixed costs. To determine if the percentage is satisfactory, management would compare the result to previous periods, forecasted performance, contribution margin ratios of similar companies, or industry standards. If the company\u2019s contribution margin ratio is higher than the basis for comparison, the result is favorable.\r\n\r\nIn our example, a ratio of 36.97% means that every dollar in sales contributes approximately $0.37 (thirty-seven cents) toward fixed costs.\r\n\r\nContribution margin looks similar to gross profit, which is sales minus cost of goods sold, but cost of goods sold includes fixed and variable costs. Contribution margin only takes into account variable costs. We\u2019ll explore this in more depth when we talk about variable costing vs. full-absorption costing later in this module.\r\n\r\nNow that you are familiar with the format of the CVP\/Contribution Margin analysis, we\u2019ll be using it to perform a number of what-if scenarios, but first, check your understanding of the contribution margin.\r\n<div class=\"textbox tryit\">\r\n<h3>Practice Questions<\/h3>\r\n[ohm_question hide_question_numbers=1 height=\"1050\"]217758-217759-217760[\/ohm_question]\r\n\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Outcomes<\/h3>\n<ul>\n<li>Calculate contribution margin and contribution margin ratio<\/li>\n<\/ul>\n<\/div>\n<p><strong>Cost volume profit (CVP) analysis<\/strong> is a managerial accounting technique used to determine how changes in sales volume, variable costs, fixed costs, and\/or selling price per unit affect a business\u2019s operating income. The focus may be on a single product or on a sales mix of two or more different products.<\/p>\n<p>We will make the following assumptions as we perform CVP analysis in this section.<img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-777 alignright\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/5469\/2021\/01\/17150454\/tom-hermans-9BoqXzEeQqM-unsplash-300x200.jpg\" alt=\"Multiple books on a cart.\" width=\"300\" height=\"200\" \/><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\">All costs are categorized as either fixed or variable.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Sales price per unit, variable cost per unit and total fixed cost are constant.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">The only factors that affect costs are changes in business activity.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">All units produced are sold.<\/li>\n<\/ol>\n<p>In addition, we\u2019ll be focusing on the following:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Selling price<\/strong> &#8211; the amount a customer pays to acquire a product or service<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Cost<\/strong> &#8211; the variable and fixed expenses involved in producing or selling a product or service<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Volume<\/strong> &#8211; the number of units or the amount of service sold<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Operating<\/strong> <strong>income<\/strong> (also referred to as Profit) &#8211; the difference between the selling price of a product (or service) minus the costs to produce (or provide) it<\/li>\n<\/ul>\n<p>Let\u2019s take a look at a simple CVP example based on our BlankBooks Company producing an estimated 2,500 units in July:<\/p>\n<div style=\"text-align: left;\">\n<table class=\"fin-table acctstatement fw\">\n<caption>BlankBooks, Inc.<br \/>\nCVP Analysis<br \/>\nFor the month ending July 31, 20XX<\/caption>\n<tbody>\n<tr>\n<th class=\"r\" scope=\"col\"><\/th>\n<th class=\"r\" scope=\"col\">Units<\/th>\n<th class=\"r\" scope=\"col\">$\/Unit<\/th>\n<th class=\"r\" scope=\"col\">Total<\/th>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td>Sales<\/td>\n<td class=\"r\">2,500<\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a010.00<\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a025,000.00<\/td>\n<\/tr>\n<tr>\n<td>Variable costs<\/td>\n<td class=\"r\">2,500<\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a08.30<\/td>\n<td class=\"r\">20,750.00<\/td>\n<\/tr>\n<tr>\n<td>Contribution Margin<\/td>\n<td><\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a01.70<\/td>\n<td class=\"r line-single\"><span class=\"u-sr-only\">Single Line<\/span>4,250.00<\/td>\n<\/tr>\n<tr>\n<td>Fixed costs<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a03,400.00<\/td>\n<\/tr>\n<tr>\n<td>Operating income<\/td>\n<td><\/td>\n<td><\/td>\n<td class=\"r line-single line-double\"><span class=\"u-sr-only\">Single Line<\/span>$\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0850.00<span class=\"u-sr-only\">Double line<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>CM ratio<\/td>\n<td><\/td>\n<td class=\"r\">17.00%<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>Contribution Margin<\/h2>\n<p>The contribution margin is calculated at both the unit level and the overall level.<\/p>\n<ol>\n<li><strong>Unit contribution margin<\/strong> = selling price per unit \u2013 variable cost per unit<\/li>\n<li><strong>Total contribution margin<\/strong> = total sales \u2013 total variable costs<\/li>\n<\/ol>\n<p>Managers monitor a company\u2019s sales volume to track whether it is sufficient to cover, and hopefully exceed, fixed costs for a period, such as a month. Contribution margin is the dollar sales amount available to apply (contribute) toward paying fixed costs during the period. In addition, whatever is left over after all fixed costs have been covered is profit, so contribution margin also contributes to profit\u2014specifically, what we call<strong> operating income<\/strong>. We\u2019ll talk more about operating income in a later section.<\/p>\n<p>Here is a quick overview of the contribution margin concept:<\/p>\n<p><iframe loading=\"lazy\" src=\"\/\/plugin.3playmedia.com\/show?mf=6352529&amp;p3sdk_version=1.10.1&amp;p=20361&amp;pt=375&amp;video_id=pm6Eo9qiUIY&amp;video_target=tpm-plugin-i8qy1zgt-pm6Eo9qiUIY\" width=\"800px\" height=\"450px\" frameborder=\"0\" marginwidth=\"0px\" marginheight=\"0px\"><\/iframe><\/p>\n<p>You can view the <a href=\"https:\/\/oerfiles.s3.us-west-2.amazonaws.com\/Managerial+Accounting\/Transcripts\/InvestopediaVideoContributionMargin_transcript.txt\" target=\"_blank\" rel=\"noopener\">transcript for &#8220;Investopedia Video: Contribution Margin&#8221; here (opens in new window)<\/a>.<\/p>\n<h3>The formulas for contribution margin<\/h3>\n<ol>\n<li>Unit contribution margin<\/li>\n<\/ol>\n<p style=\"padding-left: 60px;\">[latex]\\text{selling price of one unit \u2013 variable cost of one unit}=\\text{unit contribution margin}[\/latex]<\/p>\n<p style=\"padding-left: 60px;\">[latex]$19.99-$12.60=$7.39[\/latex]<\/p>\n<ol start=\"2\">\n<li>Total contribution margin (at sales volume of 1,137 units)<\/li>\n<\/ol>\n<p style=\"padding-left: 60px;\">[latex]\\text{total sales \u2013 total variable costs}=\\text{total contribution margin}[\/latex]<\/p>\n<p style=\"padding-left: 60px;\">[latex]$22,728.63-$14,325.86=$8,402.77[\/latex]<\/p>\n<p style=\"padding-left: 60px;\">Also, the contribution margin per unit * volume = $7.39 X 1,137 = $8,402.43 (we see a slight difference due to errors that arise from rounding)<\/p>\n<p style=\"padding-left: 60px;\">Contribution margin may also be expressed as a ratio, showing the percentage of sales that is available to pay fixed costs. The calculation is simply the contribution margin divided by sales.<\/p>\n<p style=\"padding-left: 60px;\">The same percentage results regardless of whether total or per unit amounts are used.<\/p>\n<ol start=\"3\">\n<li>Unit contribution margin ratio =<\/li>\n<\/ol>\n<p style=\"padding-left: 60px;\">[latex]\\dfrac{\\text{selling price of one unit - variable cost of one unit}}{\\text{selling price of one unit}}=\\dfrac{\\text{unit contribution margin}}{\\text{unit sales price}}[\/latex]<\/p>\n<p style=\"padding-left: 60px;\">[latex]\\dfrac{$19.99-$12.60}{$19.99}=0.3696848[\/latex]\u2026 rounded to the nearest thousandth = 0.3697 X 100<\/p>\n<p style=\"padding-left: 60px;\">Expressed as a percentage: 0.3697 X 100 = 36.97%<\/p>\n<ol start=\"4\">\n<li>Total contribution margin ratio =<\/li>\n<\/ol>\n<p style=\"padding-left: 60px;\">[latex]\\dfrac{\\text{total sales \u2013 total variable costs}}{\\text{total sales}}=\\dfrac{\\text{contribution margin}}{\\text{total sales}}[\/latex]<\/p>\n<p style=\"padding-left: 60px;\">[latex]\\dfrac{$22,728.63 - $14,325.86}{$22,728.63}=0.3696998[\/latex]\u2026 rounded to the nearest hundredth = 0.3697<\/p>\n<p style=\"padding-left: 60px;\">0.3697 X 100 = 36.97%<\/p>\n<p>The higher the percentage, the more of each sales dollar is available to pay fixed costs. To determine if the percentage is satisfactory, management would compare the result to previous periods, forecasted performance, contribution margin ratios of similar companies, or industry standards. If the company\u2019s contribution margin ratio is higher than the basis for comparison, the result is favorable.<\/p>\n<p>In our example, a ratio of 36.97% means that every dollar in sales contributes approximately $0.37 (thirty-seven cents) toward fixed costs.<\/p>\n<p>Contribution margin looks similar to gross profit, which is sales minus cost of goods sold, but cost of goods sold includes fixed and variable costs. Contribution margin only takes into account variable costs. We\u2019ll explore this in more depth when we talk about variable costing vs. full-absorption costing later in this module.<\/p>\n<p>Now that you are familiar with the format of the CVP\/Contribution Margin analysis, we\u2019ll be using it to perform a number of what-if scenarios, but first, check your understanding of the contribution margin.<\/p>\n<div class=\"textbox tryit\">\n<h3>Practice Questions<\/h3>\n<p><iframe loading=\"lazy\" id=\"ohm217758\" class=\"resizable\" src=\"https:\/\/ohm.lumenlearning.com\/multiembedq.php?id=217758-217759-217760&theme=oea&iframe_resize_id=ohm217758\" width=\"100%\" height=\"1050\"><\/iframe><\/p>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-73\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Contribution Margin. <strong>Authored by<\/strong>: Joseph Cooke. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Multiple books on a cart.. <strong>Authored by<\/strong>: Tom Hermans. <strong>Provided by<\/strong>: Unsplash. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/unsplash.com\/photos\/9BoqXzEeQqM\">https:\/\/unsplash.com\/photos\/9BoqXzEeQqM<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/cc0\">CC0: No Rights Reserved<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">All rights reserved content<\/div><ul class=\"citation-list\"><li>Investopedia Video: Contribution Margin. <strong>Authored by<\/strong>: Investopedia. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/youtu.be\/pm6Eo9qiUIY\">https:\/\/youtu.be\/pm6Eo9qiUIY<\/a>. <strong>License<\/strong>: <em>All Rights Reserved<\/em>. <strong>License Terms<\/strong>: Standard YouTube License<\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":364389,"menu_order":4,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Contribution Margin\",\"author\":\"Joseph Cooke\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"copyrighted_video\",\"description\":\"Investopedia Video: Contribution Margin\",\"author\":\"Investopedia\",\"organization\":\"\",\"url\":\"https:\/\/youtu.be\/pm6Eo9qiUIY\",\"project\":\"\",\"license\":\"arr\",\"license_terms\":\"Standard YouTube License\"},{\"type\":\"cc\",\"description\":\"Multiple books on a 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Hermans\",\"organization\":\"Unsplash\",\"url\":\"https:\/\/unsplash.com\/photos\/9BoqXzEeQqM\",\"project\":\"\",\"license\":\"cc0\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-73","chapter","type-chapter","status-publish","hentry"],"part":23,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters\/73","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/users\/364389"}],"version-history":[{"count":27,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters\/73\/revisions"}],"predecessor-version":[{"id":2695,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters\/73\/revisions\/2695"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/parts\/23"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapters\/73\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/media?parent=73"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/pressbooks\/v2\/chapter-type?post=73"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/contributor?post=73"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-managerialaccounting\/wp-json\/wp\/v2\/license?post=73"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}