Question
1.) For the FY 2018, Frederick Company had net sales of $800,000 and net income of $65,000, paid income taxes of $22,500, and had before
1.) For the FY 2018, Frederick Company had net sales of $800,000 and net income of $65,000, paid income taxes of $22,500, and had before tax interest expense of $10,000.Use this information to determine the Times Interest Earned Ratio.(Round your answers to one decimal place)
2.) Towson Manufacturing had a Work in Process balance of $110,000 on January 1, 2018. The year end balance of Work in Process was $64,000 and the Cost of Goods Manufactured was $825,000. Use this information to determine the total manufacturing costs incurred during the fiscal year 2018. (Round enter as whole dollars only.)
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