Question
Lockwood Company currently sells its deadbolt locks for $30 each. The locks have a variable cost of $10, and the company's annual fixed costs are
Lockwood Company currently sells its deadbolt locks for $30 each. The locks have a variable cost of $10, and the company's annual fixed costs are $150,000. The company's tax rate is 40 percent.
Calculate the number of locks that must be sold to earn an after-tax profit of $24,000.
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IRS Audit Protection And Survival Guide Bars And Restaurants
Authors: Gerald F. Bernard, Daniel J. Baran
1st Edition
0471166375, 978-0471166375
