FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Choice Creations, Inc. sells hand sewn shirts at $40 per shirt. It incurs monthly fixed costs of $4,000. The contribution margin ratio is calculated to

image text in transcribed

Choice Creations, Inc. sells hand sewn shirts at $40 per shirt. It incurs monthly fixed costs of $4,000. The contribution margin ratio is calculated to be 10%. What is the variable cost per shirt? (Round any intermediate calculations and your final answer to two decimal places.) A. $40.00 per shirt B. $4.00 per shirt C. $36.00 per shirt D. $44.00 per shirt

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

Step: 3

blur-text-image

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

Financial Accounting

Financial Accounting

Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin

7th Canadian Edition

0135433061, 9780135433065

More Books

Students also viewed these Accounting questions

Question

★★★★★
Annual credit sales of Nadak Co. total $340 million. The firm gives a 2% cash discount for payment within 10 days of the invoice date; 90% of Nadaks accounts receivable are paid within the discount...

Answered: 1 week ago

Question

★★★★★
A company is considering two mutually exclusive expansion plans. Plan A requires a $39 million initial outlay on a large-scale integrated plant that would provide expected cash flows of $6.23 million...

Answered: 1 week ago

Question

★★★★★
1. Teach test-taking skills; give practice tests; provide study guides.

Answered: 1 week ago

Question

★★★★★
Chucks Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Chuck has collected the...

Answered: 1 week ago

Question

★★★★★
2017 2018 19,167 1,062 20,229 12,199 19,036 1,048 20,084 12,176 KOHL'S CORPORATION CONSOLIDATED STATEMENTS OF INCOME FE 2(2P (Dollars in Millions, Except per Share Data) 2019 Net sales 18,885 Other...

Answered: 1 week ago

Question

★★★★★
Please answer the questions 15.5, 15.6 and 15.7 with your detailed explanations, it's much appreciated! 15.5 Which of the following items could appear on the credit side of a receivables ledger...

Answered: 1 week ago

Question

★★★★★
TFS is trading at $50 / share.It has no dividend and the current cc interest rate is 4%.What is the 2 month forward price? TFS is still trading at $50 / share and the cc interest rate r =...

Answered: 1 week ago

Question

★★★★★
You have received detailed feedback on the concept you proposed for assignment 1. Based on that feedback and based on the concept of Minimum Viable Product - MVP you must rethink and sharpen your...

Answered: 1 week ago

Question

★★★★★
Morgan's Selling Price 135 Process 1 Process 2 Fixed Cost 110,000 45,000 Variable Cost. 40 100 Labor Hours / unit 4 10 Suppose that Morgan is going to produce at 1300 units and would choose Process...

Answered: 1 week ago

Question

★★★★★
From the movie Everest, Guide Rob Hall attempts to help his client, Beck Weathers, get across a chasm. Based on "Leading in Times of Uncertainty, analyze the extent to which this scene reflects...

Answered: 1 week ago

Question

★★★★★
3. The book uses 4 synonyms for the average of the outcome if you played a game over and over. The four synonyms are? 1. Variance 2. Semivariance 3. Systematic distributions 4. Asystematic...

Answered: 1 week ago

Question

★★★★★
1. Many inspirational speakers attempt to take the audience on an emotional journey. They try to erase cynicism and complacency and get employees fired up about their jobs. Do you think organizations...

Answered: 1 week ago

Question

★★★★★
3. Would you like to work at a Stew Leonards retail store? Develop your rationale for employment or nonemployment.

Answered: 1 week ago

Question

★★★★★
2. Benoit Vincent was able to become a more effective manager after completion of certain personality profile instruments (the MBTI for example), participating in a series of one-on-one workplace...

Answered: 1 week ago

Previous Question Next Question