A8 Compute the sales in dollars required to earn the target profit of $100, 500 for Gloomy Inc. using thefollowing information: Unit selling price $63 Unit contribution margin 29 Fixed costs 219, 200 Round youranswer to whole number. a. $496, 027 b. $694, 521 c. $615, 137 d. $674,658

Step 1: Sales in dollars are required to earn target profit.Target profit = $100,500Unit…

Answered: Compute the sales in dollars required…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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3 . D e t e r m i n e t h e a n n u a l n e t c o s t o f t h e s e c h e c k i n g a c c o u n t s : a ) M o n t h l y f e e o f P 5 0 0 . 0 0 , a c h e c k p r o c e s s i n g f e e o f P 2 5 0 . 0 0 , a n a v e ra g e o f 1 9 c h e c k s w r i t t e n p e r m o n t h b ) A n n u a l i n t e r e s t o f 2 . 5 % p a i d i f b a l a n c e e x c e e d s P 2 0 , 0 0 0 . 0 0 , P 2 , 0 0 0 . 0 0 m o n t h l y f e e i f a c c o u n t f a l l s b e l o w t h e m i n i m u m b a l a n c e , a v e r a g e m o n t h l y b a l a n c e P 1 5 , 0 0 0 . 0 0 , a c c o u n t f a l l s b e l o w P 1 0 , 0 0 0 . 0 0 d u r i n g 4 m o n t h s .
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8 Jlgw If Quantity is 50 and price is 4.5, the total revenue will equal 225 350 400 (c) 54.5 (D
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63 is 10.5% of what number? O 6 O 6.615 O 600 O 661.5
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Compute the sales in dollars required to earn the target profit of $100, 500 for Gloomy Inc. using the following information: Unit selling price $63 Unit contribution margin 29 Fixed costs 219, 200 Round your answer to whole number. a. $496, 027 b. $694, 521 c. $615, 137 d. $674,658