(Answered) Question - annual fixed costs are 120000 and variable costs

Accounting

Question - Annual fixed costs are $120,000 and Variable costs are 40 percent of sales revenue. Last year's revenues totaled $240,000.

1. Determine break-even point in sales dollars.

2. Determine last years margin of safety in sales dollars.

3. Determine the sales volume required for an annual profit of $70,000.

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