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Teddy Industries produces cuddly animals, which it sells for $20 each. Each bears costs $12...

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Accounting

Teddy Industries produces cuddly animals, which it sells for $20 each. Each bears costs $12 of variable costs to make. During April, 1,000 bears were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio?

A.) 30%

B.) 40%

C.) 60%

D.) 70%

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