Gold Inc. produced and sold 2,940 pairs of jeans and made a net income of $8,800 last year. Total revenue for the year was $95,800. The break-even volume of the company is 2,380 pairs of jeans. a. Calculate the selling price of each pair of jeans. Round to the nearest cent. b. Calculate the variable costs for each pair of jeans. Round to the nearest cent. c. Calculate the fixed costs per year. Round to the nearest cent
Gold Inc. produced and sold 2,940 pairs of jeans and made a net income of $8,800 last year. Total revenue for the year was $95,800. The break-even volume of the company is 2,380 pairs of jeans. a. Calculate the selling price of each pair of jeans. Round to the nearest cent. b. Calculate the variable costs for each pair of jeans. Round to the nearest cent. c. Calculate the fixed costs per year. Round to the nearest cent
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Gold Inc. produced and sold 2,940 pairs of jeans and made a net income of $8,800
last year. Total revenue for the year was $95,800. The break-even volume of the
company is 2,380 pairs of jeans.
a. Calculate the selling price of each pair of jeans. Round to the nearest cent.
b. Calculate the variable costs for each pair of jeans. Round to the nearest cent.
c. Calculate the fixed costs per year. Round to the nearest cent
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