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Calculation questions assignment for chapters 19&20 1. Assume the price per unit equals $100, fixed costs total $50,000, and variable costs are $70 per unit. a. Find the breakeven point in both units and dollars. b. Assume the firm wants to earn a profit of $5000 find the new volume of sales in both units and dollars. a. Hint. BEQ= Fixed Cost/ Unit SP-Unit VC Breakeven in dollars =SPBEQ b. Hint. The contribution margin (Unit SP - Unit VC) should cover fixed cost and profit. New volume of sales in dollars =SP New sales quantity. 2. A product is priced to sell for $12 with average variable costs of $8. The company expects to earn a profit of $400,000 with its total fixed costs of $120,000. The minimum number of units that must be sold in order to reach this target return is? Hint. The contribution margin (Unit SP - Unit VC) should cover fixed cost and profit. 3. Mignon d'Armitage manufactures jewelry. This firm is planning to introduce a new necklace and is trying to determine how many units it must sell in order to break even. Fixed costs are $100,000 and variable costs for each unit will be $20. At the price of $45 each, the number of units that must be sold in order to break even is? 4. Assume an item has an invoice cost of $10.00 and a selling price of $12.5 Compute the markup both as a percentage on selling price and percentage on cost. 5. Assume an item costs $2.00. If the firm wants a markup of 20% based on the selling price, find the price. Hint:Sellingprice=1-markup%.Cost 6. Retailer selling price of a printer is $360 Retailer Markup on selling price =20% Wholesaler markup on selling price =20% Manufacturers cost is $200 A. What was the cost to the wholesaler? B. What the cost to the retailers? C. What was the manufacturer's markup on selling price? *Note (In question 6, it is assumed that the manufacturer sells to the wholesaler, the wholesaler to the retailer, and the retailer to the consumer. Also, the markup is on selling price. If you have values for two of the three variables in the formula below, you can always manipulate the formula. Which one has value for two of the variables below (retailer, wholesaler, or manufacturer?) Hint. Selling price = Cost 1-markup % 7. DEMAND-RELATED PRICING CALCULATIONS a. Calculate the price elasticity of demand for a restaurant's pizza under the following conditions: Old price: $8 Old quantity: 1,000/ month Total Revenue: $8,000 New price: $10 New quantity: 900/ month Total revenue: $9,000 b. If the new quantity sold per month were 700 (instead of 900), what would be the price elasticity of demand? HINT: ELASTICITY COEFFICIENT =[Q( NEW )Q(OLD)]/Q(OLD) [P(NEW)P(OLD)]/P(OLD) 8. BReAKeven ANALysis Assume you are selling pizzas at $8. Your fixed costs (rent, salaries, utilities) are $4800/ month. The food costs and other variable costs are 50 percent of the selling price. What is your break-even point