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Fruity Pebbles Apparel sells fruit themed shirts at $58.00 per shirt. It incurs monthly fixed costs of $4000. The contribution margin ratio is calculated to

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Fruity Pebbles Apparel sells fruit themed shirts at $58.00 per shirt. It incurs monthly fixed costs of $4000. The contribution margin ratio is calculated to be 20%. What is the variable cost per shirt? (Round any intermediate calculations and your final answer to two decimal places.) $46.40 per shirt $11.60 per shirt $69.60 per shirt $58.00 per shirt

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