Use the Information Below to Answer the Following Question(s)

question 22

Multiple Choice

Use the information below to answer the following question(s) .
Bernard Corporation gathered the following information for the year just ended:

During the year, Bernard produced and sold 50,000 units of product at a selling price of $9.00 per unit. There was no beginning inventory of product at the start of the year.
-What is the contribution margin for the year at Bernard Corporation?

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Definitions:

Premium

The amount paid for an insurance policy or the charge for accepting a higher risk in financial transactions.

Business Interruption Insurance

An insurance that provides coverage for revenue lost due to a temporary business closure caused by an insured disaster.

Policy-Holder

An individual or entity who owns an insurance policy and is entitled to coverage under that policy.

Cease Operation

The act of halting all business activities permanently or temporarily.