Cohen Company produces and sells socks. Variable cost is $8.50 per pair, and fixed costs for...
Cohen Company produces and sells socks. Variable cost is $8.50 per pair, and fixed costs for the year total $136,000. The selling price is $17 per pair.
1. Calculate the units required to make a before-tax profit of $76,500. (Do not round intermediate calculations.)
2. Calculate the sales dollars required to make a before-tax profit of $64,600. (Do not round intermediate calculations.)
3. Calculate the sales, in units and in dollars, required to make an after-tax profit of $54,600 given a tax rate of 30%. (Do not round intermediate calculations. Round sales in units up to the nearest whole number and sales in dollars to the nearest whole dollar.)
Homework Answers
1. Units required to make a before-tax profit of 76500 $ = Fixed cost + Required before-tax profit / (Selling price - variable cost)
= (136000+76500)/(17-8.5)
= 25000 units
2. Units required to make a before-tax profit of 64600 $ = Fixed cost + Required before-tax profit / (Selling price - variable cost)
= (136000+64600)/(17-8.5)
= 23600 units
3. After tax profit = 54600
Before tax profit = 54600/0.7 = 78000 $
= (136000+78000)/8.5
= 25176.47
= 25176 units
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