Use the Following Information to Answer the Following Questions

question 22

Multiple Choice

Use the following information to answer the following Questions
Narchie sells a single product for $50. Variable costs are 60% of the selling price, and the company has fixed costs that amount to $400,000. Current sales total 16,000 units.
-In order to produce a target profit of $22,000, Narchie's dollar sales must total:

• A) $8,440.
• B) $21,100.
• C) $1,000,000.
• D) $1,055,000.
• E) None of the answers is correct.

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Definitions:

Capitalism

An economic system based on private ownership of the means of production and their operation for profit, characterized by competitive markets and capital accumulation.

Communism

A political and economic ideology proposing a classless society in which all property is publicly owned and each person works and is paid according to their abilities and needs.

Social Inequality

The existence of unequal opportunities or rewards for different social positions or statuses within a society.

Fertility

The natural capability to produce offspring, often measured by the rate of births in a population or the ability of individuals or couples to conceive.