Total sales amount to $2,000,000 Food generates 75% of total sales Food cost is $500,000 Beverages generated sales of $300,000 with a CMR of 0.85 The gift store generated the remaining sales at a cost of 30% Tax rate is 27% Annual fixed costs total $1,500,000 Using this information, answer the following questions: 1. What are the total sales required? Group of answer choices $2,142,857.14 3,500,500.15 4,256,360.07

Total sales amount to $2,000,000 Food generates 75% of total sales Food cost is $500,000 Beverages generated sales of $300,000 with a CMR of 0.85 The gift store generated the remaining sales at a cost of 30% Tax rate is 27% Annual fixed costs total $1,500,000 Using this information, answer the following questions: 1. What are the total sales required? Group of answer choices $2,142,857.14 3,500,500.15 4,256,360.07

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

Total sales amount to $2,000,000

Food generates 75% of total sales

Food cost is $500,000

Beverages generated sales of $300,000 with a CMR of 0.85

The gift store generated the remaining sales at a cost of 30%

Tax rate is 27%

Annual fixed costs total $1,500,000

Using this information, answer the following questions:

1. What are the total sales required?

Group of answer choices

$2,142,857.14

3,500,500.15

4,256,360.07

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