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Mars2501 [29]
3 years ago
8

Oliver Company provided the following information for the coming year: Units produced and sold 160,000 Cost of goods sold per un

it $6.30 Selling price $10.80 Variable selling and administrative expenses per unit $1.10 Fixed selling and administrative expenses $423,000 Tax rate 35% Required: Prepare a budgeted income statement for Oliver Company for the coming year. Round all income statement amounts to the nearest dollar.
Business
1 answer:
scZoUnD [109]3 years ago
3 0

Answer:

                                     Oliver Company

            Budgeted Income Statement  For the Coming Year

Sales ($10.80 * 160,000)                                               $1,728,000

Cost of goods sold  ($6.30 * 160,000)                       <u>($1,008,000)</u>

Gross margin(Sales - COGS)                                        $720,000

Less: Variable selling and administrative expenses    ($176,000)

($1.10 * 160,000)

Less: Fixed selling and administrative expenses        <u>($423,000)</u>

Operating income                                                          $121,000

Less: Income taxes (35% * 121,000)                               <u>($42,350)</u>

Net income                                                                      <u>$78,650</u>

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<h3>What is hierarchy?</h3>
  • A hierarchy is a type of organizational system in which elements are prioritized in order of importance.
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  • So, employees who are lower in the hierarchy find it hard to question their superiors.
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Since lower-level employees find it difficult to question their supervisors.

Therefore, the correct option is (C) employees who are lower in the hierarchy find it hard to question their superiors.

Know more about Japanese corporate culture here:

brainly.com/question/14243361

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Complete question:

In Japanese corporate culture, which action is most likely to constitute a typical significant impediment to averting and responding to a crisis?

a) Decisions are generally taken by lower-level employees who directly deal with the problem.

b) Negotiations are avoided at any cost.

c) Employees who are lower in the hierarchy find it hard to question their superiors.

d) The process of decision-making is extremely complex and time-consuming.

e) Employees like to work on their own rather than in a group.

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The Contribution margin per unit is

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