Chisholm Co

question 70

Multiple Choice

Chisholm Co. has a contribution margin ratio of 40% and a breakeven point of $200,000 in sales. If the firm reports net income of $50,000 after taxes of 50%, what were total sales for the year?

• A) $450,000
• B) $466,667
• C) $500,000
• D) $700,000

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