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In 2022, Lilley Ltd produced and sold 200,000 items and the sales revenue arising was £1m. The variable costs o production were £1.75 each. They made a loss of £130,000. Assuming there is no change in any costs or revenues, how many items must be made and sold to make a profit of £220,000 in 2023? Select one answer: 307,692 278,563 200.000 184,312

In 2022, Lilley Ltd produced and sold 200,000 items and the sales revenue arising was £1m. The variable costs o production were £1.75 each. They made a loss of £130,000. Assuming there is no change in any costs or revenues, how many items must be made and sold to make a profit of £220,000 in 2023? Select one answer: 307,692 278,563 200.000 184,312

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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In 2022, Lilley Ltd produced and sold 200,000 items and the sales revenue arising was £1m. The variable costs of production were £1.75 each. They made a loss of £130,000. Assuming there is no change in any costs or revenues, how many items must be made and sold to make a profit of £220,000 in 2023? Select one answer: 307.692 278,563 200.000 O184,312 Reset
Transcribed Image Text:In 2022, Lilley Ltd produced and sold 200,000 items and the sales revenue arising was £1m. The variable costs of production were £1.75 each. They made a loss of £130,000. Assuming there is no change in any costs or revenues, how many items must be made and sold to make a profit of £220,000 in 2023? Select one answer: 307.692 278,563 200.000 O184,312 Reset
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