15 Elliott was a professional classical guitar player until his motorcycle accident that left him disabled. After long months of therapy, he hired an experienced luthier (maker of stringed instruments) and started a small shop to make and sell Spanish guitars. The guitars sell for $1,000 and the fixed monthly operating costs are as follows: Elliott's accountant told him about contribution margin ratios and he understood clearly that for every dollar of sales, $0.90 went to cover his fixed costs, and that anything past that point was pure profit. Elliott wishes to earn $5,500 of operating profit each month. Calculate the amount of sales revenue required to achieve the target profit. Rent and utilities $1.240 Wages and benefits to luthier 2.600 Other expenses 800 Minimized View $4,640 $5,500 $11.267 $6.112