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A Firm Operated at 80% of Capacity for the Past

Question 2

Multiple Choice

A firm operated at 80% of capacity for the past year, during which fixed costs were $330,000, variable costs were 70% of sales, and sales were $1,000,000. Operating profit (loss) was


A) $140,000
B) $(30,000)
C) $370,000
D) $670,000

Correct Answer:

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