Rica company is a price−taker and uses a target−pricing approach. refer to the following information: production volume602,000units per yearmarket price$34per unitdesired operating income17%of total assetstotal assets$13,700,000what is the desired profit for the year?

Desired profit for the year = $2,329,000

Explanation:

Using the given information, we have

Production volume = 602,000 units

Market price = $34

Operating income desired = 17% of total assets

Total Assets = $13,700,000

Operating income = $13,700,000 17% = $2,329,000

Therefore desired profit = $2,329,000

therefore with this information desired profit per unit = $2,329,000/602,000 =  $3.869

Target cost per unit = $34 - $3.869 = $30.131

Desired profit for the year = $2,329,000

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