Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sandras Socks is introducing a new wool dress sock that will sell for $12 per pair. Sandras must invest $62,000 in new equipment to make
Sandras Socks is introducing a new wool dress sock that will sell for $12 per pair. Sandras must invest $62,000 in new equipment to make the socks. If Sandras per-pair target cost is $11.43 and the required rate of return on investment is 22%, how many pairs must Sandras sell? Round to the nearest whole number. Select answer from the options below
a.20,440
b.23,930
c.10,639
d.16,641
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