Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

I am going to open my own Sports Jersey store. I will be selling Sports Jerseys for $99 each. My variable costs are $34. Show

I am going to open my own Sports Jersey store. I will be selling Sports Jerseys for $99 each. My variable costs are $34. Show all work not just answer:

What is my Contribution Margin per Unit?

What is the Contribution Margin Ratio (%)?

If I sell 1,000 Jerseys in my first month of business, what is my Contribution Margin in dollars?

If my total fixed costs for the month are $25,000. What is my profit for the month if I sell 1,000 jerseys?

If my fixed costs for the month are $25,000 what is my Break Even Point in Units?

If I wanted to make $100,000 each month, how many units will I need to sell each month?

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