Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Franklin Company incurs annual fixed costs of $ 7 6 , 9 4 5 . Variable costs for Franklin s product are $ 3 1

Franklin Company incurs annual fixed costs of $76,945. Variable costs for Franklins product are $31.05 per unit, and the sales price is $45.00 per unit. Franklin desires to earn an annual profit of $50,000.
Required
Use the contribution margin ratio approach to determine the sales volume in dollars and units required to earn the desired profit.
Note: Do not round intermediate calculations. Round your final answers to the nearest whole number.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions