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Sheffield Corp. produces tinted SPF 100 moisturizer that it sells for $160 each. Each bottle costs $16of variable costs to make. During the most recent quarter, 1300 bottles of moisturizer were manufactured and sold. Fixed costs for the quarter were $25 per unit for a total of $32500. What is the company's contribution margin ratio? 10%

Sheffield Corp. produces tinted SPF 100 moisturizer that it sells for $160 each. Each bottle costs $16of variable costs to make. During the most recent quarter, 1300 bottles of moisturizer were manufactured and sold. Fixed costs for the quarter were $25 per unit for a total of $32500. What is the company's contribution margin ratio? 10%

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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Sheffield Corp. produces tinted SPF 100 moisturizer that it sells for $160 each. Each bottle costs $16of variable costs to make. During the most recent quarter, 1300 bottles of moisturizer were manufactured and sold. Fixed costs for the quarter were $25 per unit for a total of $32500. What is the company's contribution margin ratio? 10% 16% 25% 90%
Transcribed Image Text:Sheffield Corp. produces tinted SPF 100 moisturizer that it sells for $160 each. Each bottle costs $16of variable costs to make. During the most recent quarter, 1300 bottles of moisturizer were manufactured and sold. Fixed costs for the quarter were $25 per unit for a total of $32500. What is the company's contribution margin ratio? 10% 16% 25% 90%
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