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FOR MANAGERIAL ACCOUNTING Mitchell Corporation manufactures a single product. The selling price is $85 per unit, and the variable costs amount to $68 per unit.
FOR MANAGERIAL ACCOUNTING
Mitchell Corporation manufactures a single product. The selling price is $85 per unit, and the variable costs amount to $68 per unit. The fixed costs are $16500 per month.
- What is the contribution margin ratio of Mitchell's Product?
- What is the monthly sales volume in dollars necessary to break even?
- How many units must be sold each month to earn a monthly operating income of $8000? (round answer to nearest whole #)
- What will be the monthly margin of safety (in dollars) if 1800 units are sold each month?
- what will be Mitchell's monthly operating income if 1800 units are sold each month?
- If units sales prices are $7 and variable costs are $5 per unit, how many units would have to be sold to break even if fixed costs equal 8000?
- If the unit sales price is 7 and variable costs are 3, how many units have to be sold to earn a profit of 3600 if fixed costs equal 5000?
Please explain how you got the answers. Also I will tip for this problem answered
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