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Last year the shirts sold for $24.00 each, and variable costs were $11.40 per shirt. At this cost structure, the breakeven point was 20,000 shirts. However, the company actually earned $15,120 in net income.
This year, the company is increasing its price to $27.00 per shirt. Variable costs per shirt will increase by one-third, and fixed expenses will increase by $30,900. The tax rate will remain at 40%.
Contribution format income statement for last year.
Calculate the contribution margin per unit for this year
How many T-shirts must the company sell this year to break even?
How many T-shirts must the company sell this year in order to earn $28,980 in net income?
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