Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 02 Aug 2017 My Price 7.00

Chromatics, Inc

Chromatics, Inc., produces novelty nail polishes. Each bottle sells for $3.60. Variable unit costs are as follows:
Acrylic base ……………….$0.75
Pigments ……………………0.38
Other ingredients …………..0.35
Bottle, packing material ……1.15
Selling commission ………..0.25
Fixed overhead costs are $12,000 per year. Fixed selling and administrative costs are $6,720 per year. Chromatics sold 35,000 bottles last year.
Required:
1. What is the contribution margin per unit for a bottle of nail polish? What is the contribution margin ratio?
2. How many bottles must be sold to break even? What is the break-even sales revenue?
3. What was Chromatics’ operating income last year?
4. What was the margin of safety?
5. Suppose that Chromatics raises the price to $4.00 per bottle, but anticipated sales will drop to 30,400 bottles. What will the new break-even point in units be? Should Chromatics raise the price? Explain.

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Aug 2017 12:08 PM My Price 7.00

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