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Narchie sells a single product for $50. Variable costs are 60% of the selling price, and the company has fixed costs that amount to $400,000. Current sales total 16,000 units. In order to produce a target profit of $22,000, Narchie's dollar sales must total: Multiple Choice O O $8,440. $21.100. $1,000,000. $1,055,000. None of the answers is correct.

Narchie sells a single product for $50. Variable costs are 60% of the selling price, and the company has fixed costs that amount to $400,000. Current sales total 16,000 units. In order to produce a target profit of $22,000, Narchie's dollar sales must total: Multiple Choice O O $8,440. $21.100. $1,000,000. $1,055,000. None of the answers is correct.

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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Narchie sells a single product for $50. Variable costs are 60% of the selling price, and the company has fixed costs that amount to $400,000. Current sales total 16,000 units. In order to produce a target profit of $22,000, Narchie's dollar sales must total: Multiple Choice $8,440. $21,100. $1,000,000. $1.055.000. None of the answers is correct.
Transcribed Image Text:Narchie sells a single product for $50. Variable costs are 60% of the selling price, and the company has fixed costs that amount to $400,000. Current sales total 16,000 units. In order to produce a target profit of $22,000, Narchie's dollar sales must total: Multiple Choice $8,440. $21,100. $1,000,000. $1.055.000. None of the answers is correct.
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