Answer:
the selling price of the product is $63
Explanation:
The computation of the selling price of the product is as follows:
As we know that
The contribution margin ratio = Contribution margin ÷ Selling price
20% = $12.60 ÷ Selling price
So the selling price is
= $12.60 ÷ 20%
= $63
Hence, the selling price of the product is $63
This is the answer but the same is not provided in the given options
We simply applied the above formula so that the correct value could come
And, the same is to be considered
