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Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: Unit sales price Unit

 

Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: Unit sales price Unit variable costs M $7 N $4 3 2 O $6 3 Total fixed costs are $340,000. The selling price per composite unit for the current sales mix (rounded to the nearest cent) is:

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