FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Lake Sales had $2,200,000 in sales last month. The contribution margin ratio was 30% and operating profits were $180,000. What is Lake's margin of safety in sales dollars?
$2,020,000.
$480,000.
$600,000.
Cannot determine with the information given.
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