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Your small toy manufacturing facility has the following information: Revenue per toy $7.95 Fixed costs $47,500 Material cost per toy $1.820 Electricity cost per toy Labor cost per toy Profit is defined as Revenue - Total Cost Given that we will sell 24,000 toys, what must the Labor cost per toy be to generate a profit of $11,000? (Enter three decimal places in your cost) $2.670

Your small toy manufacturing facility has the following information: Revenue per toy $7.95 Fixed costs $47,500 Material cost per toy $1.820 Electricity cost per toy Labor cost per toy Profit is defined as Revenue - Total Cost Given that we will sell 24,000 toys, what must the Labor cost per toy be to generate a profit of $11,000? (Enter three decimal places in your cost) $2.670

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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Your small toy manufacturing facility has the following information: Revenue per toy $7.95 Fixed costs $47,500 Material cost per toy $1.820 Electricity cost per toy Labor cost per toy $2.670 Profit is defined as Revenue - Total Cost Given that we will sell 24,000 toys, what must the Labor cost per toy be to generate a profit of $11,000? (Enter three decimal places in your cost)
Transcribed Image Text:Your small toy manufacturing facility has the following information: Revenue per toy $7.95 Fixed costs $47,500 Material cost per toy $1.820 Electricity cost per toy Labor cost per toy $2.670 Profit is defined as Revenue - Total Cost Given that we will sell 24,000 toys, what must the Labor cost per toy be to generate a profit of $11,000? (Enter three decimal places in your cost)
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