Logsdon Corporation Produces and Sells a Single Product Whose Contribution

question 311

Multiple Choice

Logsdon Corporation produces and sells a single product whose contribution margin ratio is 63%. The company's monthly fixed expense is $720,720 and the company's monthly target profit is $28,000. The dollar sales to attain that target profit is closest to:

• A) $471,694
• B) $454,054
• C) $1,188,444
• D) $1,144,000

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Definitions:

Fraternal Twins

Twins that are born from two separate eggs fertilized by two different sperm, resulting in siblings that are genetically distinct from one another.

Heterozygous

Having two different alleles.

Homozygous

Having two identical alleles.

Allele

One of two or more alternative forms of a gene that arise by mutation and are found at the same place on a chromosome.