Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Arctic Company sells pairs of shoes for $90 each. The variable costs per pair of shoes are $49 and the fixed costs per week are

Arctic Company sells pairs of shoes for $90 each. The variable costs per pair of shoes are $49 and the fixed costs per week are $6,082.

a. Calculate the number of pairs of shoes that need to be sold every week to break even. Round up to the next whole number

b. If 78 pairs of shoes were sold, calculate the net income in a week. (If the net income represents a loss, express your answer as a negative dollar amount.) Round to the nearest cent

c. How many pairs of shoes must be sold to make a profit of $7,152 in a week?

Round up to the next whole number

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Visual Auditory And Kinesthetic Self Audit Communication And Learning Profiles

Authors: Brian Everard Walsh, Ronald Willard, Astrid Whiting

1st Edition

098666555X, 978-0986665554

More Books

Students also viewed these Accounting questions

Question

Appraise the concept and types of franchising.

Answered: 1 week ago

Question

Connect with your audience

Answered: 1 week ago