Phan Incorporated has annual fixed costs totaling ($6,000,000) and variable costs of ($350) per unit. Each unit
Question:
Phan Incorporated has annual fixed costs totaling \($6,000,000\) and variable costs of \($350\) per unit. Each unit of product is sold for \($500\).
Required
a. Calculate the contribution margin ratio.
b. Find the break-even point in sales dollars.
c. What amount of sales dollars is required to earn an annual profit of \($300,000\)?
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