Sunrise Orchards is reevaluating the pricing of its fresh-squeezed pomegranate juice in half-gallon containers. Variable costs...
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Sunrise Orchards is reevaluating the pricing of its fresh-squeezed pomegranate juice in half-gallon containers. Variable costs per container are $1.70. Based on market study, management has set a price range between $2.70 and $3.20. Identify the price that maximizes contribution margin and prepare a comprehensive income statement.
Price per Half Gallon | Estimated Demand (Half-Gallon Units) |
$2.70 | 92,000 |
$2.75 | 89,000 |
$2.80 | 86,000 |
$2.85 | 83,000 |
$2.90 | 80,000 |
$2.95 | 77,000 |
$3.00 | 74,000 |
$3.05 | 71,000 |
$3.10 | 68,000 |
$3.15 | 65,000 |
$3.20 | 62,000 |
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