Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lions' Den is a television program wherein start-up companies pitch their business to well-known businesspeople, who decide whether or not to make an offer on

image text in transcribed
Lions' Den is a television program wherein start-up companies pitch their business to well-known businesspeople, who decide whether or not to make an offer on the business venture. Right now, Hello Puppy pitching their business on Lions' Den. Hello Puppy is asked what their cost structure is, and what their prices are. Accordingly, Hello Puppy's costs include $25,000 per year on advertisement, $10,000 per month on rent, $30,000 per year on insurance, and $10,000 per month on management salaries. Hello Puppy sells their products for $500 at a 50% margin. Hello Puppy is told they would need to make at least $100,000 in profit this year for the businesspeople to make an offer. According to this, how many units would Hello Puppy need to sell this year to get an offer from the businesspeople on Lion's Den? 1.180 units 940 units o 1,580 units 1.340 units

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

ISE International Financial Management

Authors: Cheol Eun, Bruce Resnick, Tuugi Chuluun

9th International Edition

1260575314, 9781260575316

More Books

Students also viewed these Finance questions

Question

Detailed note on the contributions of F.W.Taylor

Answered: 1 week ago