What will your profit be in the following scenario if you have starting inventory of 500, you produce 1,500 and you only sell 1,000? You forecast that you will sell 2,000 widgets at a price of $10. You have 500 in starting inventory. You have fixed costs of $6,000. Variable costs (expensed when units are sold) are $4.00 per unit. There is a $2.00 charge per unit for storing any excess inventory left over after sales are complete.

What will your profit be in the following scenario if you have starting inventory of 500, you produce 1,500 and you only sell 1,000? You forecast that you will sell 2,000 widgets at a price of $10. You have 500 in starting inventory. You have fixed costs of $6,000. Variable costs (expensed when units are sold) are $4.00 per unit. There is a $2.00 charge per unit for storing any excess inventory left over after sales are complete.

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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