Reduce the Following Fraction to Lowest Terms

question 18

Short Answer

Reduce the following fraction to lowest terms.
60/1200 = _____

---

Definitions:

Contribution Margin

The difference between sales revenue and variable costs, indicating the amount contributing to covering fixed costs and profit.

Variable Cost

A cost that changes in proportion to the level of output or activity in a business.

Special Discounted Price

A reduced price offered on goods or services, usually as part of a promotional deal or to certain groups of customers.

Idle Capacity

The portion of a company’s resources or assets that are not being used to their full potential, often leading to inefficiencies.