Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 23, 2024

Mike Lights sells lamps for $30. The unit variable cost per lamp is $22. Fixed costs total $9,600. Required: a. What is the contribution margin

Mike Lights sells lamps for $30. The unit variable cost per lamp is $22. Fixed costs total $9,600.

Required:

a. What is the contribution margin per lamp?

b. What is the breakeven point in lamps?

c. How many lamps must be sold to earn a pretax income of $8,000?

d. What is the margin of safety, assuming 1,500 lamps are sold?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

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

Ethical Issues In Business A Philosophical Approach

Authors: Thomas Donaldson, Patricia H. Werhane, Margaret Cording

7th Edition

0130923877, 978-0130923875

More Books

Students also viewed these Accounting questions

Question

★★★★★

A questionnaire was mailed to 1000 registered municipal voters selected at random. Only 500 questionnaires were returned, and of the 500 returned, 360 respondents were strongly opposed to a surcharge...

Answered: 1 week ago

Question

★★★★★

Use the text in this question to answer. Select the right answer to replace each letter with the corresponding words in the text. blue chip stock cyclical stock defensive stock diversify dollar cost...

Answered: 1 week ago

Question

★★★★★

=+49-3 Identify the factors that contribute to gender bias in the workplace.

Answered: 1 week ago

Question

★★★★★

Sam and his sister Blair both attend the state university. As a reward for their successful completion of the past year (Sam had a 3.2 GPA in business, and Blair had a 3.7 GPA in art), their father...

Answered: 1 week ago

Question

★★★★★

Mike Lights sells lamps for $30. The unit variable cost per lamp is $22. Fixed costs total $9,600. Required: a. What is the contribution margin per lamp? b. What is the breakeven point in lamps? c....

Answered: 1 week ago

Question

★★★★★

Explain with examples the Social, Legal, and political functions of local government units in a State. Please help me out. I need much explanations

Answered: 1 week ago

Question

★★★★★

Jayson Walker is a member of a consumer - driven health plan ( CDHP ) that is funded by a health savings account ( HSA ) established by his employer, Brock Industries. Brock's CDHP also uses a high -...

Answered: 1 week ago

Question

★★★★★

Part of Glo's strategic plan is to capture market segments that are traditionally underserved. Glo's management believes that the market for men's care products is underserved and would be an...

Answered: 1 week ago

Question

★★★★★

Michael is providing care to Anthea a Greek woman who has always attended a religious group. Anthea has been making large donations to the group. This group has strong right to life views and is...

Answered: 1 week ago

Question

★★★★★

A company uses Dynamics 365 Supply Chain Management for its warehouse operations. The company must put tolerances on over- and under-receiving of purchase order lines. The Landed cost module is not...

Answered: 1 week ago

Question

★★★★★

28. Yakuza Company issued 2,500 share of P25 par value preference shares with detachable warrants. The security package sells for P105. Each warrant enables the holder to purchase two shares of P10...

Answered: 1 week ago

Question

★★★★★

Know how to deepen the relationship through cross-selling and bundling.

Answered: 1 week ago

Question

★★★★★

Know how to attract, select, and hire the right people for service jobs.

Answered: 1 week ago

Question

★★★★★

Describe the cycles of failure, mediocrity, and success in HR for service firms.

Answered: 1 week ago

Previous Question Next Question