Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pls calculate there are 4 parts to 1 question Howard Business Suits (HBS) and its direct competitors (Hampton Business Casual Co, FAMU Business Uniforms, Morehouse

pls calculate there are 4 parts to 1 question
image text in transcribed
image text in transcribed
image text in transcribed
Howard Business Suits (HBS) and its direct competitors (Hampton Business Casual Co, FAMU Business Uniforms, Morehouse Men's, and N-CAT Suits Shirts and Ties, etc.) sell a total of 3,500,000 Business Suits annually, HBS has 9% of this market. HBS have a retail price of $500.00. The high fashion and attractive business suits are sold to a number wholesaler and then to the public at several retail stores. Retail margins on the product are 50%, while wholesalers take a 20% margin. HBS's advertising budget is $300,000 for social media, 100,000 for trade shows, $50,000 for campus ambassadors and $200,000 for sports and event marketing and $1,000,000 for TV and radio. The total salary and office expenses are $12,000,000. HBS Salespeople are the best in the business. They deal with the wholesalers' buyers. The salespeople are paid 20% commission of the manufacturer's selling price for each suit they sell. Shipping costs for the garment is $7 per unit. Fixed manufacturing costs are $4,000,000. Variable manufacturing costs for the suits are $75.50 per unit. What is the manufacturer's selling price? $200$250$50$122.50 Question 2 What market share does HBS need to break even? 6.51% 115.987 units 9.00% 3,150,000 What is the retail margin (in $ ) $250$122.5$750$1,000 Question 4 What is HBS's annual profit? $6,762,5000$17,650,000 This firm will not see a profit $24,412,500 $576,088 Howard Business Suits (HBS) and its direct competitors (Hampton Business Casual Co, FAMU Business Uniforms, Morehouse Men's, and N-CAT Suits Shirts and Ties, etc.) sell a total of 3,500,000 Business Suits annually, HBS has 9% of this market. HBS have a retail price of $500.00. The high fashion and attractive business suits are sold to a number wholesaler and then to the public at several retail stores. Retail margins on the product are 50%, while wholesalers take a 20% margin. HBS's advertising budget is $300,000 for social media, 100,000 for trade shows, $50,000 for campus ambassadors and $200,000 for sports and event marketing and $1,000,000 for TV and radio. The total salary and office expenses are $12,000,000. HBS Salespeople are the best in the business. They deal with the wholesalers' buyers. The salespeople are paid 20% commission of the manufacturer's selling price for each suit they sell. Shipping costs for the garment is $7 per unit. Fixed manufacturing costs are $4,000,000. Variable manufacturing costs for the suits are $75.50 per unit. What is the manufacturer's selling price? $200$250$50$122.50 Question 2 What market share does HBS need to break even? 6.51% 115.987 units 9.00% 3,150,000 What is the retail margin (in $ ) $250$122.5$750$1,000 Question 4 What is HBS's annual profit? $6,762,5000$17,650,000 This firm will not see a profit $24,412,500 $576,088

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_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

Security And Audit Field Manual

Authors: Alex Meyer, Mark Polino

1st Edition

B0B72Q3V4M, 979-8841258483

More Books

Students also viewed these Accounting questions