Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The total cost for company X to produce a batch of tools is $10,000 plus $3 per tool. Each sells for $8. The gross profit
The total cost for company X to produce a batch of tools is $10,000 plus $3 per tool. Each sells for $8. The gross profit earned from producing and selling these tools is the total income from sales minus the total production cost. If a batch of 20,000 tools is produced and sold, then Company X's gross profit per tool is ___________. Remember, after you find the overall gross profit divide that number of units to find profit per tool!
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