FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Alafaya's sales for 2019 totaled $12 million and variable costs were 45% of sales. The firm had a net income of $2 million and no

image text in transcribed
Alafaya's sales for 2019 totaled $12 million and variable costs were 45% of sales. The firm had a net income of $2 million and no interest expense. What is the firms fixed costs for 2019? Assume a tax rate of 21%. $2,531,646 $531,646 $5,400,000 $6,600,000 $4,068,354 Next No meditative astichecked at 12:00nm Submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Personal Finance

Authors: Jack Kapoor, Les Dlabay, Robert Hughes

4th Edition

0256147175, 978-0256147179

More Books

Students also viewed these Finance questions

Question

★★★★★
1. What broad economic and specific corporate pressures have resulted in the need for a radical shake-up of Nissan? 2. In the context of traditional Japanese employment and working practices and...

Answered: 1 week ago

Question

★★★★★
Give a case brief on the following case. Include the following: Facts of the case Judicial history of the case issue of the case (in question form) Rules of the case Analysis of the case...

Answered: 1 week ago

Question

★★★★★
(Appendixes) UNCOLLECTIBLE ACCOUNT EXPENSE: CREDIT SALES METHOD. The Glass House, a glass and china store, sells nearly half its merchandise on credit. During the past 4 years, the following data...

Answered: 1 week ago

Question

★★★★★
Johnson Inc. is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor-hours to apply overhead to individual jobs. For 2010, estimated direct labor-hours are...

Answered: 1 week ago

Question

★★★★★
Alafaya's sales for 2019 totaled $12 million and variable costs were 45% of sales. The firm had a net income of $2 million and no interest expense. What is the firms fixed costs for 2019? Assume a...

Answered: 1 week ago

Question

★★★★★
1. Using the terms Demand Deposit, Legal Reserve, and Excess Reserve compose a sentence to describe the role of Third National Bank in the money creation process. 2.Mrs. Jones decides to flip her...

Answered: 1 week ago

Question

★★★★★
A division of Electronic Appliances Limited (EAL) sold 6,000 units of refrigerators during the year ended September 30, 2020. The sale price is Rs. 50,000 per unit. The finished goods inventory was...

Answered: 1 week ago

Question

★★★★★
In order to produce 100 chocolate chip cookies, MaxCookieCo incurs an average total cost of $1.06 per cookie. The company's marginal cost is constant at $0.11 for all chocolate chip cookies produced....

Answered: 1 week ago

Question

★★★★★
3. Once again, suppose you take out a loan of P dollars, with monthly interest rate r. Suppose also that your bank gives you the option to choose what you pay to principal each month. You expect that...

Answered: 1 week ago

Question

★★★★★
The human body maintains its internal temperature through thermoregulation, and a healthy adult has a mean body temperature of 98.6 F. The processes of thermoregulation begin to deteriorate in older...

Answered: 1 week ago

Question

★★★★★
In your workplace or a simulated workplace environment, lead and facilitate a team on two separate occasions with different individuals or groups. During this activity, you must: Prepare to lead a...

Answered: 1 week ago

Previous Question Next Question