Refer to the instruction above. What selling price would be necessary to generate an annual profit of $90,000, if expected volume is 6,000 units per year (assume fixed costs remain at $60,000, and variable cost per unit at $35)?
A) $30 / unit
B) $40 / unit
C) $50 / unit
D) $60 / unit
D
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Given that Carlson Corp's current ratio is 3 to 2, what is the effect of obtaining a patent from the inventor in exchange for shares of stock in Carlson Corp?
a. The current ratio would increase. b. The current ratio would decrease. c. The current ratio would remain the same. d. Unable to determine.
Anil was just named top employee of the month. To decide who would receive this honor, management must have used the ______ method of performance appraisal.
A. ranking B. management by objectives C. graphic rating D. behavioral anchored rating
A(n) ______ is a court-ordered implied agreement to prevent one party in an action from benefiting at the expense of another party.
A. implied contract B. express contract C. quasi-contract D. non-contract
Dodger bought an insurance contract from Liberty Farm Co The policy contained a clause stating that all claims for losses had to be reported within 45 days after the date of the loss or the claim would be barred. Time is stated to be of the essence. Dodger sustained a covered farm loss, but did not report it to Liberty Farm until 50 days later. Liberty Farm denied coverage for the claim. If
Dodger sues, who wins? a. Dodger wins; the contract was substantially performed. b. Liberty Farm wins; there was failure of a condition subsequent. c. Dodger wins; courts will not enforce a time-of-the-essence clause. d. Liberty Farm wins; the impossibility doctrine applies.