Lomas Electronics manufactures a portable testing device for use in oil exploration. The products price and cost
Question:
Selling price per unit . . . . . . . . . . . $ 130
Variable cost per unit . . . . . . . . . . . 70
Fixed cost per year . . . . . . . . . . . . 420,000
Required
The company must sell 10,000 units annually in order to earn $117,000 in profits after taxes. What is Lomas Electronics’s tax rate?
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After tax profits P VX F1 t 1...View the full answer
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Related Book For 
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
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