Find the compound amount for the deposit. Round to the nearest cent. $15,000 at 8% compounded semiannually for 10 years
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Answer:
The answer is in the explanation
Explanation:
Phoenix Company
Fixed Budget Report
For the 'fear Ended 31st December 2015
Flexible Budget Flexible Budget for
Variable Amount Total Fixed Unit Sales Unit Sales
per unit cost of 14,000 of 16,000
Sales at 210 $ per unit (A) 210 2940000 3360000
Variable cost
Direct Material $ 62.00 $868,000.00 $ 992,000.00
Direct Labor $ 14.00 $196,0000.00 $ 224,000.00
Machinery repairs $ 3.00 $ 42,000.00 $ 48,000.00
Utilities $ 2.00 $ 28,000.00 $ 32,000.00
Packaging $ 6.00 $ 84,000.00 $ 96,000.00
Shipping $ 6.00 $ 84,000.00 $ 96,000.00
Total Variable Expenses (B) $ 93.00 $1,302,000.00 $1,488,000.00
Contribution margin (C=A-B) $ 117.00 $ 1,638,000.00 $ 1,872,000.00
Fixed cost
Depreciation $ 315,000.00 $315,000.00 $ 315,000.00
Plant Management Salaries $ 210,000.00 $210,000.00 $ 210,000..
Utilities $ 180,000.00 $ 180,000.00 $ 180,000.00
Sales Salary $ 235,000.00 $ 235,000.00 $ 235,000.00
Advertising Expenses $ 100,000.00 $ 100,000.00 $ 100,000.00
Salaries $ 241,000.00 $ 241,000.00 $ 241,000.00
Entertainment Expenses $ 85,000.00 $ 85,000.00 $ 85,000.00
Total Fixed Expenses (D) $1,366,000.00 $1,366,000.00 $ I,366,000.00
Net Profit (C-D) $ 272,000.00 $ 506,000.00
Variable Cost Per unit= Variable Cost / 150000
Increase in Operating Income if Sales rise to 18000
Phoenix Company
Forecast contribution Margin Income Statement
For the year Ended 31st December 2015
Sales in Units 15,000 18,000
Contribution Margin Per Unit $ 117 $ 117
Contribution Margin $ 1,755,000 $2,106,000
Fixed Costs $ 1,366,000 $ 1,366,000
Expected increase in Operating Income $ 389,000 $ 740,000
$ 351,000
Income (loss) from operation sale is reduced to 12000
Phoenix company
Forecast contribution Margin Income Statement
For the year Ended 31st December 2015
Sales in Units 15,000 12,000
Contribution Margin Per Unit $ 117 $ 117
Contribution Margin $ 1,755,000 $1,404,000
Fixed Costs $ 1,366,000 $ 1,366,000
Operating Income $ 389,000 $ 38,000
check the attached image for the correct arrangement of the tables and solution
