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Lapatulllka [165]
2 years ago
10

Haskins Products sells 2,000 kayaks per year at a sales price of $470 per unit. Haskins sells in a highly competitive market and

uses target pricing. The company has calculated its target full product cost at $720,000 per year. Total variable costs are $300,000 per year and cannot be reduced. Assume all products produced are sold. What are the target fixed​ costs?
Business
1 answer:
AysviL [449]2 years ago
4 0

Answer:

target fixed​ costs is $ 420000

Explanation:

Given data

sells 2,000

sales price of $470 per unit.

product cost at $720,000

variable costs are $300,000

to find out

target fixed​ costs

solution

we know here product cost and variable cost

so target fixed​ costs is product cost - variable costs

so we put all these value to find out target fixed cost

target fixed​ costs = product cost - variable costs

target fixed​ costs = 720000 - 300000

target fixed​ costs is $ 420000

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If a VA purchase contract is $340,000 and the funding fee is 1.75% what is the total loan amount?
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Multiply 1.75%×340,000
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2 years ago
On January 1, 20X8, Polo Corporation acquired 75 percent of Stallion Company's voting common stock for $300,000. At the time of
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Answer:

Polo will report $318,750 as its investment in Stallion at December 31, 20X8

Explanation:

Common stock = $300,000 acquired at 75%

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Increase in value of Patent = $50,000    

Economic Life = 10    

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Therefore, the $ 5000 would be reduced from the net income.

Investments in Polo = $300,000 + [0.75 × (40000 - 10000 - 5000)]

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7 0
3 years ago
Lake acquired a controlling interest in Boxwood several years ago. During the current fiscal period, the two companies individua
bixtya [17]

a) With Lake's 60% controlling interest in Boxwood, the total income tax expense reported on a consolidated income statement for this period is $99,023 ($471,540 x 21%).

b)  With Lake's 60% controlling interest in Boxwood, the total amount of income taxes payable for the current year is $101,400 ($363,000 + $120,000) x 21%.

c)  With Lake's 90% controlling interest in Boxwood, the amount of income tax expense to be reported on the consolidated income statement for the year is $97,820 ($465,810 x 21%).

<h3>What is controlling interest?</h3>

Controlling interest exists when a company or an individual owns more than 50% of the shareholdings of another company.  This gives the investor shareholder a majority voting share to influence decisions of the subsidiary company.

<h3>Data and Calculations:</h3>

                                    Lake        Boxwood

Income reported    $363,000    $120,000

Dividend paid             60,000          5,000

Dividend income          3,000 ($5,000 x 60%)

Increase in intra-entity gross profits = $19,100 ($41,500 - $22,400).

Excludable intra-entity gross profits = $11,460 ($19,100 x 60%).

Consolidated Income = $471,540 ($363,000 + $120,000 - $11,460)

Excludable intra-entity gross profits = $17,190 ($19,100 x 90%).

Consolidated Income = $465,810 ($363,000 + $120,000 - $17,190)

Learn more about controlling interests at brainly.com/question/15415717

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