Gibbs Company Has a Contribution Margin of $150,000 and a Contribution

question 89

Multiple Choice

Gibbs Company has a contribution margin of $150,000 and a contribution margin ratio of 30%. How much are total variable costs?

• A) $45,000
• B) $350,000
• C) $105,000
• D) $500,000

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Definitions:

Sensation

The process by which our sensory receptors and nervous system receive and represent stimulus energies from our environment.

Visual Sensation

The experience of receiving and interpreting light through the eyes, leading to the perception of the surrounding environment.

Visual Perception

The ability to interpret the surrounding environment using light in the visible spectrum reflected by the objects in the environment.

Prosopagnosia

A neurological disorder characterized by the inability to recognize faces.