Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The owner of a store that sells custom kitchen cabinets wants to figure out their margin percentage. The store sells 400 cabinets per year at
The owner of a store that sells custom kitchen cabinets wants to figure out their margin percentage. The store sells 400 cabinets per year at $325 per cabinet. Assume that variable costs are $150 per unit, and total fixed costs are $44,000. What margin percentage is the store making on these cabinets?
Round to the nearest tenth of a percent. For example, 13.25% would be inputted as "13.3"
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