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Ivanhoe Company had $164,500 of net income in 2019 when the selling price per unit was $153, the variable costs per unit were $93, and the fixed costs were $573,500. Management expects per unit data and total fixed costs to remain the same in 2020. The president of Ivanhoe Company is under pressure from stockholders to increase net income by $36,900 in 2020.
Problem 1: Compute the number of units sold in 2019.
Problem 2: Compute the number of units that would have to be sold in 2020 to reach the stockholders' desired profit level.
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