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melisa1 [442]
3 years ago
11

Leeks Company's product has a contribution margin per unit of $12.60 and a contribution margin ratio of 20.0%. What is the selli

ng price of the product?
a. $5.
b. $20.
c. $30.
d. $40.
e. $50.
Business
1 answer:
vlabodo [156]3 years ago
5 0

Answer:

the  selling price of the product is $63

Explanation:

The computation of the selling price of the product is as follows:

As we know that

The contribution margin ratio = Contribution margin ÷ Selling price

20% = $12.60 ÷ Selling price

So the selling price is

= $12.60 ÷ 20%

= $63

Hence, the  selling price of the product is $63

This is the answer but the same is not provided in the given options

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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