For the most recent quarter, Baffle company had an after-tax profit of $62,720from sales of 225,000 units. The company's variable costs are 60% of the selling priceand fixed costs are $121,900. If the company's tax rate is 30%, what was the sellingprice per unit? (Round your answer to the nearest penny):a. $0.82b. $1.57c. $2.35d. $2.05e. $1.17f. $1.37g. $1.77h. None of the above.

Contribution margin is the difference between the sales and the variable cost. The contribution…

Answered: For the most recent quarter, Baffle…

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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For the most recent quarter, Baffle company had an after-tax profit of $62,720 from sales of 225,000 units. The company’s variable costs are 60% of the selling price and fixed costs are $121,900. If the company’s tax rate is 30%, what was the selling price per unit? (Round your answer to the nearest penny): a. $0.82b. $1.57c. $2.35d. $2.05e. $1.17f. $1.37g. $1.77h. None of the above.

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