Elmer J. Fudd manufactures widgets that are helpful in keeping rabbits out from gardens. Elmer will...

Elmer J. Fudd manufactures widgets that are helpful in keeping rabbits out from gardens. Elmer will be making 12000 widgets during the next production run which has a fixed cost of $15,500 and variable cost of $21.85 per widget. What must be the minimum selling price that will fetch him at least a net profit of $50,500?

Expert Solution

Fixed cost = 15500

Target profit = 50500

Minimum selling price = (Fixed cost + Target profit) / Number of units + Variable cost per unit

= (15500 + 50500) / 12000 + 21.85

= $27.35

jeff jeffy answered 2 years ago

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