Given answer general accounting question Peterson's Auto Repair has $120,000 of fixed costs and variable costsof 70% of sales. How much total sales is needed to achieve a net incomeof $90,000?

Step 1: Define Required Sales for Target Net IncomeThe required sales level is the total sales…

Answered: Peterson's Auto Repair has $120,000 of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 7EB: Delta Co. sells a product for $150 per unit. The variable cost per unit is $90 and fixed costs are...

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Peterson's Auto Repair has $120,000 of fixed costs and variable costs of 70% of sales. How much total sales is needed to achieve a net income of $90,000?