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1. Sales are $500,000 and variable costs are $300,000. What is the contribution margin ratio?
a. 67%
b. 40%
c. 60%
d. Cannot be determined.
2. At the break-even point of 2,000 units, variable costs are $55,000, and fixed costs are $32,000. How much is the selling price per unit?
a. $43.50
b. $11.50
c. $16.00
d. $27.50
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