1.

Goliath Industries has fixed costs of $600,000 and variable costs are 60% of sales. How much will Goliath report as sales when its net income equals $60,000?

A. $1,100,000

B. $1,560,000

C. $660,000

D. $396,000

E. $1,650,000

2.

Baker Company manufactures & sells kites for $8.00 each. The variable cost per kite is $3.00 with the current annual sales volume of 90,000 kites. This volume is currently Baker's breaking even point. Use this information to determine the dollar amount of Baker Company's fixed costs. (Round dollar value to the nearest whole dollar & as whole dollars only.)

3.

Johnson Company manufactures book cases, and each requires 32 board feet of lumber. Towson expects that 1,700 and 1,550 book cases will be built in June and July, respectively.Johnson keeps lumber on hand at 30% of the next month's production needs. Use this information to determine number board feet of lumber that Johnson Company should buy in June. (Round & enter final answers to the nearest whole number.)

4.

Baker Company has budgeted activity for March to reflect net income $175,000. All sales are credit sales. Receivables are planned to increase (decrease -) by $-21,000 payables to increase (decrease -) by $13,000 and Depreciation Expense is $44,000. Use this information to determine how much cash will increase (decrease) during the month of March. (Decreases in accounts receivable or accounts payable will have a negative sign in front of number.Round & enter final answer to the nearest whole dollar.)