WileyPLUS Chegg Study | Guided Solutio × e what ls The Answer Please Arx × c sec

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WileyPLUS Chegg Study | Guided Solutio × e what ls The Answer Please Arx × c secure https://edugen.wileyplus.com/edugen/student/mainfr.u ni WileyPLUS Kimmel Accounting, 6 INTRODUCTORY ACCOUNTING I/II (ACT 221/222) Home Read, Study & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment>open Assignment TIMER Start Time: 02:00 PM/ Remaining: 77 min. CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Question 1 A company requires $2000000 in sales to meet its net income target. Its contribution margin is 40%, and fixed costs are $300000, what is the target net income? 18-19-20 a Question 1 Question 2 $1020000 $800000 $420000 $500000 Question 4 Question 5 Question Question 7 Question Question 9 Question 10 Question 11 Click if you would like to Show Work for this question: Question13 Question 14 Question 15 Question Attempts: 0 of 1 usedSAVE FOR LATER SUBMIT ANSWER Question 20 Question 25 All Rights Reserved. A Division of lohn Wiley & Sons Inc Version 4.24.2.4

Explanation / Answer

The Correct answer is D $500,000. Please see the below workings.

Target Profit        = COntribution margin - Fixed Cost

                           = (2,000,000*40%) - 300,000

                          = 800,000 - 300,000

                          = $500,000

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