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Southwest Industries produces a sports glove that sells for $55 per pair. Variable expenses are $31 per pair and fixed expenses are $37,000 annually.
The contribution margin ratio for Southwest Industries in pairs of gloves is: (Round your answer to whole percentage.)
40%
44%
36%
56%
The next week he received a $100 check from the manufacturer. Explain how much should Ted include in his gross income
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