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Golden Harvest is reevaluating the pricing of its fresh-squeezed apple cider in half-gallon containers. Variable costs...

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Accounting

Golden Harvest is reevaluating the pricing of its fresh-squeezed apple cider in half-gallon containers. Variable costs per container are $1.70. Based on market analysis, management has set a price range of $2.70 to $3.20. Identify the price that maximizes contribution margin and prepare a balance sheet reflecting this pricing strategy.

Price per Half Gallon

Estimated Demand (Half-Gallon Units)

$2.70

92,000

$2.75

89,000

$2.80

86,000

$2.85

83,000

$2.90

80,000

$2.95

77,000

$3.00

74,000

$3.05

71,000

$3.10

68,000

$3.15

65,000

$3.20

62,000

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