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Fanning Company incurs annual fixed costs of $92,640. Variable costs for Fanning's product are $24.80 per unit, and the sales p $40.00 per unit. Fanning desires to earn an annual profit of $51,000. Required Use the contribution margin ratio approach to determine the sales volume in dollars and units required to earn the desired profit Note: Do not round intermediate calculations. Round your final answers to the nearest whole number. Sales in dollars Sales volume in units

Fanning Company incurs annual fixed costs of $92,640. Variable costs for Fanning's product are $24.80 per unit, and the sales p $40.00 per unit. Fanning desires to earn an annual profit of $51,000. Required Use the contribution margin ratio approach to determine the sales volume in dollars and units required to earn the desired profit Note: Do not round intermediate calculations. Round your final answers to the nearest whole number. Sales in dollars Sales volume in units

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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Exercise 11-18A (Algo) Desired profit LO 11-5 Fanning Company incurs annual fixed costs of $92,640. Variable costs for Fanning's product are $24.80 per unit, and the sales price is $40.00 per unit. Fanning desires to earn an annual profit of $51,000. Required Use the contribution margin ratio approach to determine the sales volume in dollars and units required to earn the desired profit. Note: Do not round intermediate calculations. Round your final answers to the nearest whole number. Sales in dollars Sales volume in units
Transcribed Image Text:Exercise 11-18A (Algo) Desired profit LO 11-5 Fanning Company incurs annual fixed costs of $92,640. Variable costs for Fanning's product are $24.80 per unit, and the sales price is $40.00 per unit. Fanning desires to earn an annual profit of $51,000. Required Use the contribution margin ratio approach to determine the sales volume in dollars and units required to earn the desired profit. Note: Do not round intermediate calculations. Round your final answers to the nearest whole number. Sales in dollars Sales volume in units
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