t a price of $320 per unit. Fixed costs are $40,000 monthly. Variable costs are $210 per unit You are asked to calculate the number of units that need to be sold per month to reach the break-even point. Interpret the result Calculate the units you must sell per month to obtain a profit of $14,000 per month. Perform the respective verification of the two previous points

t a price of $320 per unit. Fixed costs are $40,000 monthly. Variable costs are $210 per unit You are asked to calculate the number of units that need to be sold per month to reach the break-even point. Interpret the result Calculate the units you must sell per month to obtain a profit of $14,000 per month. Perform the respective verification of the two previous points

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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Saved Help Save & Exit St Check my V Sandy Bank, Inc., makes one model of wooden canoe. Partial information is given below. Required: 1. Complete the following table. 2. Suppose Sandy Bank sells its canoes for $510 each. Calculate the contribution margin per canoe and the contribution margin ratio. 3. This year Sandy Bank expects to sell 760 canoes. Prepare a contribution margin income statement for the company. Calculate Sandy Bank's break-even point in units and in sales dollars. 5. Šuppose Sandy Bank wants to earn $68,000 profit this year. Calculate the number of canoes that must be sold to achieve this target. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Complete the following table. (Round your "Cost per Unit" answers to 2 decimal places.) Number of Canoes Produced and Sold 420 630 790 Total costs Variable Costs 65,940 Fixed Costs 136,920 Total Costs 2$ 202,860 $ 0 $ Cost per Unit Variable Cost per Unit…
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