Jonathan Edwards is evaluating a business opportunity to sell cookware at trade shows. Mr. Edwards can buy the cookware at a wholesale cost of $390 per set. He plans to sell the cookware for $470 per set. He estimates fixed costs such as plane fare, booth rental cost, and lodging to be $5,600 per trade show.
A) Determine the number of cookware sets Mr. Edwards must sell at a trade show to break even (zero profit or loss). Use the following structure to answer this question:
a. Determine the amount of the contribution margin per unit.
b. Calculate the break-even point in units.
c. Calculate the break-even point in sales dollars.
B) Assume Mr. Edwards desires to earn a profit of $6,400 per show.
a. Determine the sales volume in units (sets of cookware) necessary to earn the desired profit.
b. Determine the sales volume in dollars necessary to earn the desired profit.
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Jonathan Edwards is evaluating a business opportunity to sell cookware at trade shows. Mr. Edwards c...
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