Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following financial information is collected from the business Coffee Grinders in February 2021. Casual coffee grinder wages per unit $1 Raw material cost per
The following financial information is collected from the business Coffee Grinders in February 2021. Casual coffee grinder wages per unit $1 Raw material cost per unit $3 Rent Expense $1,200 $1,600 Off ice Employee salaries (full-time) Selling price per unit $12 Units sold in February 2021 500 Target profit for March 2021 $5,000 Required: Answer the following questions in the spaces provided. For money amounts, round your answer to the nearest dollar. Do not include $. Do not use comma separators. Do not use negative numbers nor brackets. For example, 123456 would be the correct format. The total variable cost per unit is $ . (1 mark) The total fixed cost for is $ (1 mark) The total contribution margin is $ (1 mark) The contribution margin ratio is %. (1 mark) The breakeven point in units is (1 mark) The breakeven in dollars is $ (1 mark) The margin of safety in dollars is $ . (1 mark) The margin of safety in units is . (1 mark) The margin of safety ratio is %. (1 mark) The sales in dollars required to achieve the target profit for March is $ (1 mark) The number of packets of coffee required to achieve the target profit for March is (1 mark)
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