On solving the provided question, we can say that - Consequently, $75.21 is the chair's minimal selling price.
the price at which something is offered for sale or offered for sale following a price reduction. 2. The asking price for anything. The amount of cash that is transferred between buyers and sellers of products and services is known as revenue. Selling price is the price offered or sold for a certain inventory item. The selling price is often the price at which something is sold. When discussing real estate, you could hear this specific term. It happens frequently that the list price or asking price is either more or lower than the final selling price. Sale pricing signify temporary discounts on regular prices.
3,575 beach chairs are produced each month by Zion Sun Chairs. The minimal sales price for a chair is $75.21 in order to generate a monthly profit of $65,000.
The profit calculation formula is as follows:
Sales revenue less all costs equals profit.
Sales price per unit x the quantity of units sold equals revenue.
Total cost equals Fixed Cost plus Variable Cost.
x units produced divided by variable cost per unit equals the variable cost.
given parameters:
3,575 units were made (sold).
Earnings = $65,000,
Cost fixed = $17,363.50
$52.17 is the variable price per unit.
Hence,
[tex]variable cost = 52.17 x 3,575 = 186,507.75\\total cost = 17,363.50 + 186,507.75 = 203,871.25\\Profit = revenue - total cost\\65,000, = revenue - 203,871.25\\revenue = 203,871.25 + 65,000 = 268,871.25\\sales price = 268,871.25 / 3,575 = 75.21\\[/tex]
Consequently, $75.21 is the chair's minimal selling price.
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