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Arlecino [84]
2 years ago
9

Widget Manufacturing Company is preparing a profit budget and has projected that net sales will equal $470,000 for the period an

d that fixed manufacturing costs will be $150,000. Additionally, Widget expects variable manufacturing costs to be 35% of net sales. Widget manufacturing expects no changes to any inventory values from the beginning of the period to the end of the period. Use this information to determine Widget Manufacturing Company's budgeted gross profit. En g
Business
1 answer:
Orlov [11]2 years ago
4 0

Answer:

the Widget Manufacturing Company's budgeted gross profit is $155,500

Explanation:

The computation of the Widget Manufacturing Company's budgeted gross profit is shown below:

Value of Opening inventory = Value of Closing inventory

As we know that  

Gross profit = Sales- Variable Expenses- Fixed cost

= $470,000 - $164,500(35% of $470,000 ) -$150,000

= $155,500

Hence, the Widget Manufacturing Company's budgeted gross profit is $155,500

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2 years ago
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Hammond Lumber has just changed from prefabricating 8 gazebos to 10 gazebos (units). Their total costs changed from $9,500 to $1
AfilCa [17]

Answer:

MC = 750

Explanation:

Below is the given values:

Initial quantity = 8

Final quantity = 10

Initial total cost = $9500

Final total cost = $11000

Marginal cost = Change in total cost / Change in quantity

Change in total cost = 11000 - 9500 = 1500

Change in quantity = 10 - 8 = 2

Marginal cost = Change in total cost / Change in quantity

MC = 1500 / 2

MC = 750

3 0
3 years ago
Match each word with the phrase: diversification- the period of time after people end their working careers, guaranteed- to prom
Sveta_85 [38]

Answer:

*Diversification => The practice of putting money into more than one kind of investment

*Guarantee => To promise and deliver a future result

*Return => The money earned on an investment in a certain period of time

*Liquidity => The ability to quickly convert something into cash

*Retirement => The period of time after people end their working careers

Explanation:

1. Diversification is the act of investing resources into different areas or sectors of an economy. For example, a company that produces mainly clothing and textile materials can decide to diversify by investing in other areas like agriculture or food processing.

2. Guarantee is usually the ability of a company to promise, for example, certain qualities of a product to the consumers, and also matching the promise with the actual fulfillment of what was promised to the consumers.

3. Return: for example, if I invest $5000 on a restaurant business, and after like 12 months, the money generated on the money invested is my returns.

4. Liquidity: for example, if I have harvested cash crops, and I need money immediately, I can easily generate cash by selling them. The ease at which an asset can be converted to cash is what is termed liquidity.

5. Retirement: virtually all careers have a set time when their employees are due for retirment. The period when one leaves a career officially, after spending a certain period of years in service, is what is termed retirement.

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2 years ago
Over the course of 40 years, Sal grew his company to six package shipping stores. With his retirement approaching and the increa
aalyn [17]

Answer:

Defensive strategy

Explanation:

7 0
3 years ago
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A company has the following budget information: Sales: $118,800; COGS: $48,500; Depreciation expense: $1,500; Interest expense:
ycow [4]

Answer:

If the company budgets 40% for income tax expense, the budgeted net income will be $16,002

Explanation:

Total expense of the company = COGS + Depreciation expense + Interest expense + Other expenses = $48,500 + $1,500 + $250 + $41,880 = $92,130

Pretax income = Sales - Total expense = $118,800 - $92,130 = $26,670

Income tax expense = $26,670 x 40% = $10,668

The budgeted net income = Pretax income - Income tax expense = $26,670 - $10,668 = $16,002

4 0
2 years ago
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