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The following monthly data are available for Lumberyard Company. which produces only one product: Selling price per unit $42; Unit variable expenses $14; Total fixed expenses $42000; Actual sales for the month of June 3000 units. How much is the margin of safety for the company for June?
Mutually Exclusive
Events that cannot happen simultaneously.
Simple Events
In probability, a simple event is a single outcome within a sample space, not composed of other events.
Probability
A measure of the likelihood that an event will occur, ranging from 0 (impossibility) to 1 (certainty).
Combinations
The selection of items from a collection such that the order of selection does not matter.
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