Melton Ltd sells only one product. The following information, which includes all costs, is available for the month ended July 2022: Variable costs R800 000 Fixed costs R600 000 Operating profit R600 000 Study the information given above and calculate the percentage by which the selling price per unit must increase, to increase operating profit by 10%. (Assume that there are no changes to the sales volume, total variable costs or fixed costs.).
Melton Ltd sells only one product. The following information, which includes all costs, is available for the month ended July 2022: Variable costs R800 000 Fixed costs R600 000 Operating profit R600 000 Study the information given above and calculate the percentage by which the selling price per unit must increase, to increase operating profit by 10%. (Assume that there are no changes to the sales volume, total variable costs or fixed costs.).