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Challis Company Had Sales of $450,000 and a Profit of $54,000

Question 47

Multiple Choice

Challis Company had sales of $450,000 and a profit of $54,000 during the period. Assume the fixed costs for the period were $184,500. The contribution margin ratio for the period was:


A) 12%
B) 47%
C) 53%
D) 88%

Correct Answer:

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