Pick-Me-Up Company is introducing a new high caffeine coffee in its stores and must decide what price to set for the coffee beans. An estimated demand schedule for the product is as follows: Price 1 Lb. units demanded $5.00 88,100 $6.00 75,400 $7.00 60,300 $8.00 45,400 $9.00 33,300 $10.00 26,000 Estimated costs are as follows: Variable manufacturing costs per unit Fixed manufacturing cost per year $2.00 $39,900 Variable selling & administrative costs per unit $0.50 Fixed selling & administrative costs per year $20,600 Prepare a schedule showing management the total revenue, total cost, and total profit or loss for each selling price. At what price do you recommend Pick-Me-Up Company should choose. Select an answer Price Demand $5.00 $6.00 $7.00 $8.00 $9.00 $10.00 Total Revenue Variable Costs Fixed Costs Total Costs Total Profit (Loss)

Pick-Me-Up Company is introducing a new high caffeine coffee in its stores and must decide what price to set for the coffee beans. An estimated demand schedule for the product is as follows: Prepare a schedule showing management the total revenue, total cost, and total profit or loss for each selling price. At what price do you recommend Pick-Me-Up Company should choose