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PM MCQ test 1 on pricing. Please Sir can you explain how 70% has been calc?

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › PM MCQ test 1 on pricing. Please Sir can you explain how 70% has been calc?

  • This topic has 1 reply, 2 voices, and was last updated 2 months ago by John Moffat.
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  • March 23, 2023 at 8:02 am #681679
    custard1
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    Practice question chapter 7 , Quiz nr 1, selling price is calculated as v.c 28 / 70%. Please can you explain how 70% has been calculated? Thank you

    March 23, 2023 at 8:26 am #681680
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 52481
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    The CS ratio is 30%. Given that the contribution is the selling price less the variable costs, then for every $100 the contribution is $30 and the variable costs must be $70, or 70% of the selling price.

    If the variable cost is $28 and this is 70% of the sales, it means that the selling price must be 28/70%.

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