A company produces 420 units of a particular computer component every month, at a production cost to the company of $110 per component, and sells all of the components by the end of each month. What is the minimum selling price per component that will guarantee that the yearly profit (revenue from sales minus production costs) will be at least $626,400 ?
Correct answer: B
Explanation
450*12(x-110)=626400
where x is a selling cost of one item
x-110, is a profit from one item
450 - number of items produced and sold per month
12 - is a number of month in a year
Simplifying the equation will lead to x-110=116, then x = 230
B
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