Mike's Bikes is thinking about carrying a newline of adult tricycles. To carry this new line,Mike's Bikes would have to invest $21,522 intraining and equipment. The new bikes wouldearn Mike's Bikes a 37% contribution marginas percent of selling price. Mike's Bikes will nottake on the new line unless the company isassured of earning a 12% return on sales.Calculate breakeven sales in DOLLARS, whileachieving the ROS% target. (Rounding:penny.)

Answered: Image /qna-images/answer/5bb8e018-0a74-4f03-bade-69352fa7eee7.jpg

Answered: Calculate breakeven sales in DOLLARS,…

Business

Accounting

Calculate breakeven sales in DOLLARS, while achieving the ROS% target. (Rounding: penny.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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