How many T-shirts must the company sell this year in order to earn $56,640 in net income?
Homework Answers
| Unit sales neede to attain target profit | = | 164,467 | T - shirts | |
| Workings: | ||||
| Contribution per unit | = | $ 10.36 | ||
| Fixed cost | = | $ 1,647,240 | ||
| Target Profit | = | $ 56,640 | ||
| Unit sales neede to attain target profit | = | (Fixed cost +Target Profit) / Contribution per unit | ||
| = | ($1647240 + $56640) / $10.36 | |||
| = | 164,467 | T - shirts |
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Crane sells T-shirts imprinted with high school names and logos.
Last year the shirts sold for $26 each, and variable costs were
$14.00 per shirt. At this cost structure, the breakeven point was
45,000 shirts. However, the company actually earned $21,600 in net
income.
This year, the company is increasing its price to $28 per shirt.
Variable costs per shirt will increase by Unresolved%, and fixed
expenses will increase by $1,107,240. The tax rate will remain at
40%.
Your answer...
Assume that Matthew’s fixed costs, variable costs, and sales
price were the same last year, when he made $51,660 in net income.
How many hats did Matthew sell last year, assuming a 30% income tax
rate?
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