Knox CorpHas a Selling Price of $20,variable Costs of $14 Per

question 118

Multiple Choice

Knox Corp.has a selling price of $20,variable costs of $14 per unit,and fixed costs of $25,000.If Knox sells 12,000 units,the contribution margin ratio will equal:

• A)$60,000
• B)30%
• C)70%
• D)10.4%

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Definitions:

Minority Influence

The process by which a smaller faction within a group, despite being outnumbered, manages to persuade the majority to adopt their point of view or behavior.

Matters Of Opinion

Issues or topics that are subjective and open to personal interpretation, beliefs, or preferences, rather than being based on fact or necessity.

Prosperity

Denotes a state of flourishing, wealth, and good fortune, where an individual or community enjoys success and economic well-being.

Reference Groups

Groups that individuals use as a standard for evaluating themselves and their own behavior.