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Hilltop Farms is reevaluating the pricing of its fresh-squeezed grape juice in half-gallon containers. Variable costs...

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Accounting

Hilltop Farms is reevaluating the pricing of its fresh-squeezed grape juice in half-gallon containers. Variable costs per container are $1.60. Based on market study, management has set a price range of $2.60 to $3.10. Identify the price that maximizes contribution margin and prepare the owner's equity statement.

Price per Half Gallon

Estimated Demand (Half-Gallon Units)

$2.60

99,000

$2.65

96,000

$2.70

93,000

$2.75

90,000

$2.80

87,000

$2.85

84,000

$2.90

81,000

$2.95

78,000

$3.00

75,000

$3.05

72,000

$3.10

69,000

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