Loren, Inc

question 73

Essay

Loren, Inc., sold 30,000 units of its product last year with the following results:
The company expects variable costs to increase by $4.00 per unit this year.
a. Assuming the unit sale price remains constant, compute the unit contribution margin and the contribution margin ratio for this year.
b. Given the expected change in variable costs, how many units will have to be sold this year to earn the same operating income as last year?
c. Assuming the company is willing to raise the unit sales price but wants the contribution margin to be the same as last year, determine the unit sales price the company must charge to cover the expected increase in variable costs.

Identify and explain the purposes of legal rules and the role of law in society.

Apply critical-thinking skills to legal issues and case analysis.

Know where to find applicable laws for specific legal problems and the hierarchy of law sources.

Understand the concept of legal positivism and its distinction from natural law.

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Definitions:

Wage Gap

The disparity in earnings between different groups of workers, often defined by gender, race, or age.

Poverty

A situation where an individual or society does not possess the necessary financial means or basic necessities to maintain a basic living standard.

Social Policies

Guidelines, principles, legislation, and activities that affect the living conditions conducive to human welfare, such as those affecting healthcare, education, and housing.

Philosophical Conservatives

Individuals who emphasize tradition, order, and social stability, advocating for limited government intervention in the economy and society.