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Pick-Me-Up Company is introducing a new high caffeine coffee in its stores and must decide...

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Accounting

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Pick-Me-Up Company is introducing a new high caffeine coffee in its stores and must decide what price to set for the coffee beans. An estimated demand schedule for the product is as follows: Price 1 Lb. units demanded $5.50 89,200 $6.50 70,700 $7.50 56,400 $8.50 48,600 $9.50 32,700 $10.50 27,300 Estimated costs are as follows: Variable manufacturing costs per unit $1.50 Fixed manufacturing cost per year $38,900 Variable selling & administrative costs per unit $1.00 Fixed selling & administrative costs per year $21,500 Prepare a schedule showing management the total revenue, total cost, and total profit or loss for each selling price, Price Demand Total Revenue Variable Costs Fixed Costs Total Costs Total Profit (Loss) $5.50 $6.50 $7.50 $8.50 $9.50 $10.50

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