Mark owns a company that sells sneakers of high quality. For each sneaker, the leather cost is SR 110 and the production cost is SR 70. The monthly cost for running the company is SR 32000 and the monthly cost for running the factory is SR 56000. If Mark predicted that he would only sell 550 sneakers, what selling price would make Mark break-even by selling this number of sneakers?
Mark owns a company that sells sneakers of high quality. For each sneaker, the leather cost is SR 110 and the production cost is SR 70. The monthly cost for running the company is SR 32000 and the monthly cost for running the factory is SR 56000. If Mark predicted that he would only sell 550 sneakers, what selling price would make Mark break-even by selling this number of sneakers?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Mark owns a company that sells sneakers of high quality. For each sneaker, the leather cost is SR 110 and the production cost is SR 70. The monthly cost for running the company is SR 32000 and the monthly cost for running the factory is SR 56000. If Mark predicted that he would only sell 550 sneakers, what selling price would make Mark break-even by selling this number of sneakers?
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