Bluegreen's Most Popular Product Has a Variable Cost of $43

question 23

Multiple Choice

Bluegreen's most popular product has a variable cost of $43.56.On Bluegreen's income statement, the cost of goods sold per unit is $40.29.If Bluegreen's markup percentage on variable cost is 25% and its gross margin is 26%, what is the selling price of this product?

• A)$54.45
• B)$58.08
• C)$58.86
• D)$53.72

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Definitions:

Probability

A measure quantifying the likelihood that events will occur, ranging from 0 (impossibility) to 1 (certainty).

α

Typically used to denote the level of significance in hypothesis testing, representing the probability of rejecting a true null hypothesis or the threshold of rareness.

β

Often used to represent the slope coefficient in linear regression analysis, indicating the change in the dependent variable for a one-unit change in an independent variable.

Probability

The measure of the likelihood that a particular event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.