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Identify/define and explain the significance of the following: Ignatius Loyola.
Sales Volume
The total quantity of products or services sold by a company during a specific period of time.
Contribution Margin Ratio
The percentage of each sales dollar that contributes to covering fixed costs and generating profit.
Products
Goods or services that are created through a business process and offered in the market to satisfy the needs or wants of customers.
Predetermined Overhead Rate
This is a rate calculated before the accounting period begins, used to allocate manufacturing overhead costs to products.
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