jadarichardson2235 jadarichardson2235

31-12-2020
Business

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Logsdon Corporation produces and sells a single product whose contribution margin ratio is 63%. The company's monthly fixed expense is $720,720 and the company's monthly target profit is $28,000. The dollar sales to attain that target profit is closest to:

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topeadeniran2 topeadeniran2

02-01-2021

Answer: $1188444

Explanation:

Based on the information given in the question, the dollar sales to attain that target profit will be calculated as:

= (Fixed cost + Desired profit) / Contribution margin ratio

= (720720 + 28000) / 63%

=748720/63%

= 748720/0.63

= 1188444

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