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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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Question 1 Modern Footwear Industries manufactures a complete line of men's and women's dress shoes for independent merchants. The average selling price for its finished product is RM85 per pair. The variable cost is RM58. Modern Footwear incurs fixed costs of RM170,000 annually and interest paid is RM20,000. The current sales level of the company is 12,500 pairs of shoes. d. If the company plans to increase its current profit by 25%, what is the sales in units and value that they need to incur?
Transcribed Image Text:Question 1 Modern Footwear Industries manufactures a complete line of men's and women's dress shoes for independent merchants. The average selling price for its finished product is RM85 per pair. The variable cost is RM58. Modern Footwear incurs fixed costs of RM170,000 annually and interest paid is RM20,000. The current sales level of the company is 12,500 pairs of shoes. d. If the company plans to increase its current profit by 25%, what is the sales in units and value that they need to incur?
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