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PART 3: Scenario-Based Multiple-Choice Questions Use the below information to answer the following THREE questions (numbered 7 through 9). Presented below is the contribution
PART 3: Scenario-Based Multiple-Choice Questions Use the below information to answer the following THREE questions (numbered 7 through 9). Presented below is the contribution format income statement of Olin Company for last month. The company produced and sold 30,000 units of its single product. Sales Variable Expenses Contribution Margin Fixed Expenses Net Operating Income 7. What is the company's margin of safety in dollars? * $600,000 $675,000 $825,000 $1,500,000 None of the above $1,500,000 900,000 600,000 270,000 $330,000
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