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Gibson Company makes a product that sells for $33 per unit. The company pays $21 per unit for the variable costs of the product and
Gibson Company makes a product that sells for $33 per unit. The company pays $21 per unit for the variable costs of the product and incurs annual fixed costs of $106,800. Gibson expects to sell 22,700 units of product. Required Determine Gibson's margin of safety expressed as a percentage. (Round your percentage answers to 2 decimal places (i.e., 0.2345 should be entered as 23.45).)
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