Timer Notes Print Survey of Accounting Concepts Main Menu Contents Grades Course Contents EXAM 1 Question 8 Evaluate Feedback X Company makes and sells a single product. Its budgeted profit equation for 2021 before taxes is P = 0.38R - $310,000, where is total revenue. The company is not completely sure that the contribution margin rate will be 0.38 in 2021. Assuming that total revenue will be $1,093,300 in 2021, and the tax rate will be 40%, what must the contribution margin rate be in order for X Company to earn $27,000 after taxes (rounded to two decimal places)? A: 0.07 OB: 0.11 OC: 0.15 OD: 0.22 OE: 0.32 OF: 0.47 Submit Answer Tries 0/99 Post Discussion Send Feedback