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san4es73 [151]
3 years ago
9

Walt Bach Company has accumulated the following budget data for the year 2019.

Business
1 answer:
mrs_skeptik [129]3 years ago
6 0

Answer:

Walt Bach Company

a) Schedule of Cost of Goods Sold

Direct materials =                 $400,000 (2*$5*40,000)

Direct labor =                          960,000 (1.5*$16*40,000)

Manufacturing overhead =    360,000 ($6*60,000)

Total cost of goods sold = $1,720,000

b) Budgeted Income Statement for 2013

Sales Revenue          $2,200,000

Cost of goods sold      (1,720,000)

Gross profit                   $480,000

Selling and admin. exp.  200,000

Income before tax        $280,000

Income tax (30%)             (84,000)

Net income                   $196,000

Explanation:

a) Budget Data and Calculations:

Sales: 40,000 units, unit selling price $55, Revenue = $2,200,000

Cost of one unit of finished goods:

Direct materials 2 pounds at $5 per pound = $400,000 (2*$5*40,000)

Direct labor 1.5 hours at $16 per hour = $960,000 (1.5*$16*40,000)

Manufacturing overhead $6 per direct labor hour = $360,000 ($6*60,000)

Inventories (raw materials only):

Beginning, 10,000 pounds;

Ending, 15,000 pounds.

Selling and administrative expenses: $200,000.

Income taxes: 30% of income before income taxes.

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4: In 2013, the United States Postal Service charged $0.46 to mail a letter weighing up to 1 oz. and $0.20 per ounce for each ad
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Answer:

<u>expansionary; will be equal to</u>

Explanation:

<em>Remember</em>, monetary policies are basically divided into:

  1. expansionary monetary policy, and
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Indeed, as the name implies, the expansionary monetary policy is meant to in a sense boost up economic growth in terms of reducing interest rates thereby theoretically increasing spending and also leading to an increase in the money supply. When there is an increase in the money supply, this thus leads to an increased inflation rate, which would be expected if workers and firms have rational expectations.

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3 years ago
The Morris Corporation has $350,000 of debt outstanding, and it pays an interest rate of 8% annually. Morris's annual sales are
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Answer:

8.14 times

Explanation:

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As we know that

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But before tha,  we need to do the following calculations

The interest amount  is

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So, the TIE ratio is

= $228,000 ÷ $28,000

= 8.14 times

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3 years ago
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Ksju [112]

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