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Barometers sell for $300 each. Variable costs are $200 per unit, fixed costs are $50,000. If the company desires to make profit of at least $5,000, what is the minimum number of units that must be sold? Select one: a. 650 b. 500 c. 550 d. 600

Barometers sell for $300 each. Variable costs are $200 per unit, fixed costs are $50,000. If the company desires to make profit of at least $5,000, what is the minimum number of units that must be sold? Select one: a. 650 b. 500 c. 550 d. 600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Barometers sell for $300 each. Variable costs are $200 per unit, fixed costs are $50,000. If the company desires to make profit of at least $5,000, what is the minimum number of units that must be sold? Select one: a. 650 CO ● b. 500 c. 550 d. 600 Which of the following statements best describes the term "Sunk Cost"? Select one: a. It has been already incurred and it cannot be avoided b. You can avoid such costs by changing the decision process c. It is a relevant cost in any decision-making d. It does not involve any cash outlay
Transcribed Image Text:Barometers sell for $300 each. Variable costs are $200 per unit, fixed costs are $50,000. If the company desires to make profit of at least $5,000, what is the minimum number of units that must be sold? Select one: a. 650 CO ● b. 500 c. 550 d. 600 Which of the following statements best describes the term "Sunk Cost"? Select one: a. It has been already incurred and it cannot be avoided b. You can avoid such costs by changing the decision process c. It is a relevant cost in any decision-making d. It does not involve any cash outlay
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