Prepare a contribution margin income statement if Greenwich, Inc., wants to make a profit of $50,000. It

Question:

Prepare a income statement if Greenwich, Inc., wants to make a profit of $50,000. It has variable costs of $10 per unit and fixed costs of $20,000. How much must it charge per unit if 5,000 units are sold?

Contribution Margin
Contribution margin is an important element of cost volume profit analysis that managers carry out to assess the maximum number of units that are required to be at the breakeven point. Contribution margin is the profit before fixed cost and taxes...