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dimulka [17.4K]
3 years ago
8

Bruce is a single father with 1 child. He can work as a bagger at the local grocery store for $6 per hour up to 1,200 hours per

year. He is eligible for welfare, and if he does not earn any income, he will receive $15,000 a year. If Bruce works, the government policy is to deduct 60 cents from his welfare stipend for every $1 that he earns in income. With this policy in place, if Bruce works 600 hours, his income will be_________.
Business
1 answer:
serg [7]3 years ago
4 0

Answer:

$16,440

Explanation:

If Bruce is able to work 600 hours per year, his salary will be $3,600 (= $6 x 600), but he will lose $2,160 (= $3,600 x 60%) of welfare stipend.

His total welfare stipend is $15,000 if he is not able to work during the year.

Bruce's total income = $15,000 + $3,600 - $2,160 = $16,440

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Answer:

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The target profit is the amount of profit that a business wants to earn. To calculate the target profit, we can use the break even analysis and include the factor for target profit under its formula and calculate the units and the dollar sales needed to earn the target profit.

In this case, the target profit is $50000 per month.

The break even in units = Fixed cost / contribution margin per unit

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To calculate units required for target profit, we will add the target profit to the fixed cost and divide by the contribution margin per unit

Target profit units = (fixed cost + target profit) / Contribution margin per unit

So,

Contribution margin per unit = 20 - 10 = $10 per unit

Target profit units = (5000 + 50000) / 10

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