If Total Sales Are $460,000, Total Variable Costs Are $138,000

question 131

Multiple Choice

If total sales are $460,000, total variable costs are $138,000, and total fixed costs are $184,000, the contribution margin ratio is:

• A) 70%
• B) 60%
• C) 40%
• D) 30%

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Definitions:

Vice-Admiralty Courts

Courts established in British colonies to deal with maritime issues, including smuggling and violations of navigation acts, often criticized for their lack of jury trials.

Enumerated Goods

Enumerated goods are specific commodities listed in various navigation and trade laws, especially during the colonial period, which were allowed to be shipped only to specific destinations.

African Slavery

The forced enslavement of African people, primarily occurring from the 16th to the 19th centuries, involving their transportation to the Americas to work on plantations.

Slave Societies

Societies where the economy and laws are heavily structured around the institution of slavery, with a significant portion of the population being enslaved individuals.