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Crunchy Morsels, Inc. manufactures and sells corn chips. Currently, Crunchy produces only one type of corn chip. The chips are packaged in 11-ounce bags and sold to retailers for $1.50 per bag. The variable costs per bag are as follows:
Corn $0.70 Vegetable Oil 0.10 Miscellaneous ingredients 0.03 Selling 0.10
Fixed manufacturing costs total $300,000 per year. Administrative (fixed) costs total $100,000.
a. Compute the # of bags of corn chips that must be sold by Crunchy to breakeven? b. How many bags of corn chips must be sold for Crunchy to earn a before-tax profit of $150,000? c. Assuming a tax rate of 60%, how many bags of corn chips must be sold to earn an after-tax profit of $284,000?
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