Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mikes Bikes has asked you to figure out how many bikes they need to sell and what their total sales in dollars would be to
Mikes Bikes has asked you to figure out how many bikes they need to sell and what their total sales in dollars would be to show a net profit of $10,000. They sell each bike for $225, with $85 in variable expenses per bike. Mikes fixed expenses per month are $9,000. Mike would need to sell [ Blank 1] bikes for a total sales of [ Blank 2] to meet his net target profit.
Blank 1: a. 224 bikes, b. 136 bikes, c. 65 bikes
Blank 2: a. $50,400 in sales, b. $30,600 in sales, c. $14,625 in sales
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