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erastovalidia [21]
3 years ago
5

Exercise 8-8 Budgeted Income Statement [LO8-9] Gig Harbor Boating is the wholesale distributor of a small recreational catamaran

sailboat. Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit sales 700 Selling price per unit $ 2,070 Cost per unit $ 1,605 Variable selling and administrative expense (per unit) $ 60 Fixed selling and administrative expense (per year) $ 200,000 Interest expense for the year $ 23,000 Required: Prepare the company’s budgeted income statement for the year.
Business
1 answer:
maks197457 [2]3 years ago
5 0

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Budgeted unit sales 700 Selling price per unit $ 2,070 Cost per unit $ 1,605 Variable selling and administrative expense (per unit) $ 60 Fixed selling and administrative expense (per year) $ 200,000 Interest expense for the year $ 23,000

Sales= 1,449,000 (+)

COGS= 1,123,500

Gross profit= 325,500

Selling and administrative= (60*700)+200,000= 242,000

Interest expense= 23,000

Net operating profit= 60,500

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Answer:

Option (D) is correct.

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6 0
4 years ago
The cost of preferred stock: Question 2 options:
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Answer:

The correct answer is letter "A": is equal to the dividend yield.

Explanation:

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3 years ago
Two alternatives, code-named X and Y, are under consideration at Guyer Corporation. Costs associated with the alternatives are l
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The correct answer is C.

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Giving the following information:

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4 years ago
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