1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
FYI; for those of you who "do not find this set up of the site fair" are ridiculous an unappreciative. This site and the coopera
patriot [66]
Agreed. I try helping as much as possible.
7 0
3 years ago
Johnson Battery Systems recently reported $9,000 of sales, $6,000 of operating costs other than depreciation, and $1,500 of depr
muminat

Answer:

$1,100

Explanation:

EBIT = Sales - Costs - Depreciation

       = $9,000 - $6,000 - $1,500

       = $1,500

Net income = EBIT - Tax @ 40%

                    = $1,500 - $600

                    = $900

Operating cash flow = Net income + Depreciation

                                  = $900 + $1,500

                                  = $2,400

Free cash flows:

= Operating cash flow - Increase in working capital - Capital expenditure

= $2,400 - $500 - $800

= $1,100

8 0
3 years ago
4.
pshichka [43]

the answer to this question is 4.70%

7 0
3 years ago
Sarah is preparing for the baptism of Chris. He bought five dressed chicken weighing 1 3/4, 2 1/8, 1 1/3,1 2/5, and 2 1/2 kilogr
wlad13 [49]

The total weight of the chicken is 9\frac{5}{48} kg.

The total weight of the chickens can be determined by adding the weights of the five chickens together.

Addition is a basic mathematical operation that is carried out by adding two or more numbers together.

Total weight = 1\frac{3}{4} + 2\frac{1}{8} + 1\frac{1}{3} + 1\frac{2}{5} + 2\frac{1}{2}

7\frac{720 + 120 + 320 + 384 + 480}{960}

7 \frac{2020}{960}

9\frac{5}{48} kg

To learn more about adding fractions, please check:

brainly.com/question/11664473?referrer=searchResults

7 0
2 years ago
Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is
sasho [114]

Answer:

$25,800

Explanation:

The units-of-production deprecation method depreciates an asset based on the total units produced each year.

Unit of production depreciation expense = (units produced / total expected units of production) × (cost of asset - salvage value)

(64,500 / 300,000) x ($135,000 - $15,000)

0.215 x $120,000 = $25,800

I hope my answer helps you

6 0
3 years ago
Other questions:
  • USSOCOM is focused on organizing, training, equipping and providing highly capable __________ special operations forces to geogr
    10·1 answer
  • How is going public a way to secure capital without going into debt? Name a company that has held an IPO.
    7·1 answer
  • A client heard through its hotline that John, the purchases journal clerk, periodically enters fictitious acquisitions. After Jo
    12·1 answer
  • Upper Crust Bakers just paid an annual dividend of $3.10 a share and is expected to increase that amount by 4 percent per year.
    12·1 answer
  • A manufacturer produces 500,000 MP3 players in the first quarter of the year. It sells 400,000 of them and adds 100,000 of them
    5·1 answer
  • burger king, the resaurant chain, sold a store location to mcdonalds. How can burger king determine the sale price of the sotre
    9·1 answer
  • Gonzalez Company has 350,000 shares of $10 par value common stock outstanding. During the year, Gonzalez declared a 10% stock di
    12·1 answer
  • A service auditor's report on a service center should include a(n) :A. Detailed description of the service center's internal con
    5·1 answer
  • Which of the following techniques will help the writer of an advertisement
    12·1 answer
  • Can somebody help me figure out what he means by this assignment. Don't actually do it but like explain it to me
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!