Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Just need the answer thanks 11. Joes Coffee House sells a unique item with the following information available: Sales price $20 per unit Variable costs

Just need the answer thanks

11.

Joes Coffee House sells a unique item with the following information available:

Sales price

$20 per unit

Variable costs

$6 per unit

Fixed costs

$1 per unit

Units produced and sold

1000

What is the contribution margin ratio?

Select one:

35%

30%

65%

70%

12.

If production increases by 20%, the total variable cost will:

Select one:

decrease by 20%.

increase by 20%.

increase by more than 20%.

remain the same.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions