In order to produce a target profit of $26,100, narchie's dollar sales must total is $1,578,333.33
What is target profit?
A profit target is a set price where an investor will close a position with a profit. Investors as well as technical traders use profit targets as part of many trading strategies to manage risk, and the target could be set using a variety of techniques or criteria. At various times during an investment's holding period, profit targets can be established and updated. When a trade is first established, an initial profit target can be set using strategies like technical positions on a chart, financial analysis of a company's financials, or even a heuristic like after 10% or a specific dollar increase.
Target Volume($)=(Fixed Cost+Target Profit)/Contribution Margin Ratio
Fixed Cost=445200
Target Profit=28300
Sale Price=50
Variable Cost=50*70%=$35
Contribution Margin Rato=Contribution Margin/Sales Revenue=(Sales Revenue-Variable Cost)/Sales Revenue=(50-35)/50=0.30
Thus; Target Volume=(445200+28300)/0.30=$1,578,333.33 (Answer)
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