Solving for unknowns. During the third quarter of a recent year, Mia Automobile Company sold 50,000 cars
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Solving for unknowns. During the third quarter of a recent year, Mia Automobile Company sold 50,000 cars for $250 million and realized a loss for the quarter of $24 million. The break-even point was 70,000 cars. Calculate for the quarter:
a. Contribution margin per car.
b. Total fixed costs.
c. Profits if revenue had been $500 million for 100,000 cars sold.
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