Question
1. Kings Company recently sold 175 units and had total sales of $5,075. During the same time the company reported variable costs per unit of
1. Kings Company recently sold 175 units and had total sales of $5,075. During the same time the company reported variable costs per unit of $19 and net income of $950. If the company's price per unit were increased by $3 and its volume decreased by 15 units, what would be the company's projected net income?
2. The Johnson Corporation reported the following costs for the manufacture of 51,000 units: (a) direct materials of $38,000, (b) direct labor of $92,000, (c) administrative costs of $32,000, (d) overhead costs of $48,000 and (e) selling costs of $19,000. If the company sold 46,000 units, what total dollar amount would it report as ending inventory in its financial statements? As needed, round your final answer to the nearest whole dollar.
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