Determine the amount of target net income.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 3
Company X requires sales of
$2,042,000 to achieve its
target net income.
$548,000
Contribution margin ratio of
company X is 25% and fixed
costs amounts to $150,000.
Determine the amount of
target net income.
$2,192,000
$360,500
$510,500
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