Jerry makes designer gloves at his workshop. He buys the cloth required for the gloves at $2.50 per glove He also buys stitching material at $0.50 per glove. He spends $400 per month to rent his workshop. He sells the gloves for $11 each. How many gloves does he need to sell to break even?

50 gloves

Explanation:

The formula for breakeven point = Fixed cost/contribution margin per unit

Fixed cost =$400

contribution margin per unit = selling cost - variable cost

selling price = $11

variable cost per item = cloth at $2.50 + stitching $0.50 = $3.0

Contribution margin = $11 - $3 = $8

Break-even point = $400/$8

=50 gloves

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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