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In: AccountingOften a firm will calculate the break-even point for aprice. That is, if we set...Often a firm will calculate the break-even point for aprice. That is, if we set the price at $X, then how many units willwe need to sell to cover costs (that is, our break-even point).Work through the following data and questions to gain a betterunderstanding of this approach.QUESTIONSStart by completing the above table under the assumption thatthe product will be sold for $30. (It will be easiest to use Excelto complete the table.) How many units need to be sold tobreak-even at a product price of $30?Now recalculate the table under the assumption that the productwill be sold for $15. How many units need to be sold to break-evenat a product price of $15?What do you think you would set first: the sales target or theprice? Why?No. of UnitsAllocated Fixed CostsVariable Cost/UnitTotal ProductionCostAverage Unit CostUnit PriceTotal Sales RevenueGross Profit500$10,000$101,000$10,000$101,500$10,000$102,000$10,000$102,500$10,000$10