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Bonita Industries has a product with a selling price per unit of $100, the unit variable cost is $30, and the total monthly fixed costs are $300,000. How much is Bonita's contribution margin ratio? a. 30% b. 70% c. 150% d. 333%

Bonita Industries has a product with a selling price per unit of $100, the unit variable cost is $30, and the total monthly fixed costs are $300,000. How much is Bonita's contribution margin ratio? a. 30% b. 70% c. 150% d. 333%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Give correct contribution margin ratio?

Bonita Industries has a product with a selling price per unit of $100, the unit variable cost is $30, and the total monthly fixed costs are $300,000. How much is Bonita's contribution margin ratio? a. 30% b. 70% c. 150% d. 333%
Transcribed Image Text:Bonita Industries has a product with a selling price per unit of $100, the unit variable cost is $30, and the total monthly fixed costs are $300,000. How much is Bonita's contribution margin ratio? a. 30% b. 70% c. 150% d. 333%
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