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You Exchanged $1,000 To ×\times 105,000 for a Trip to Japan ×\times

question 57

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You exchanged $1,000 to ×\times 105,000 for a trip to Japan.During your stay,you spent ×\times 50,000.Also,during this period the dollar weakened against the yen to 100 to a dollar.On your return,you went to the bank to exchange the remaining yen.How many dollars did you spend on the trip?

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Definitions:

Variable Costs

Costs that change in proportion to the level of goods or services produced by a business.

Expenses

Outflows or using up of assets as part of operations of a business to generate revenue.

Contribution Margin

The difference between sales revenue and variable costs of a product or service, indicating how much revenue contributes toward covering fixed costs and generating profit.

Sales

The total revenue generated from selling goods or services over a specific period of time.

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