Novak, Inc is a company that manufactures and sells a single product. Unit sales for each of the four quarters of 2020 are projected as follows. Quarter Units First 72,000 Second 135,000 Third 495,000 Fourth 100,000 Annual total 810,000 Novak incurs variable manufacturing costs of $0,40 per unit and variable nonmanufacturing costs of $0.40 per unit. Novak will incur fixed manufacturing costs of $648,000 and fixed nonmanufacturing costs of $972,000. Novak will sellits produet for $4 per unit. (a) Your answer is incorrect Determine the amount of net income Novak will report in each of the four quarters of 2020, assuming actual sales are as projected and employing the integral approach to interim financial reporting (snore income taxes) Repeat the analysis under the discrete approach. (Round answers to decimal places, c5:125) 1st Quarter 2nd Quarter ard Quarte $ Net income Integral Approach) $ $ Net income (Discrete Approach $ Current Attempt in Progress Novak, Inc. is a company that manufactures and sells a single product. Unit sales for each of the four quarters of 2020 are projected as follows Quarter Units First 72,000 Second 135,000 Third 495,000 Fourth 108,000 Annual total 810,000 Novak incurs variable manufacturing costs of $0.40 per unit and variable nonmanufacturing costs of $0.40 per unit. Novak will incur fixed manufacturing costs of $648,000 and fixed nonmanufacturing costs of S972,000. Novak will sell its product for $4 per unit. () Your answer is incorrect. Determine the amount of net income Novak will report in cach of the four quarters of 2020, assuming actual sales are as prejected and employing the integral approach to interim financial reporting (gnore Income taxes) Repeat the analysis under the discrete approach. Round answers to decimol places, . 51250 Quarter 2nd Quarter ard Quarter Ath Quarter S $ $ S S e Textbook and Media (a) Your answer is incorrect. Determine the amount of net income Novak will report in each of the four quarters of 2020, assuming actual sales are as projected and employing the integral approach to interim financial reporting (ignore income taxes. Repeat the analysis under the discrete approach. Round answers to decimo ploons es 5125) 1st Quarter 2nd Quarter 3rd Quarte Net income Integral Approach) $ $ $ Net income (Discrete Approach) $ e Textbook and Media Save for Later Attempt 1 of 3 used Su Arawer (61) Your answer is incorrect Compute Novak's profit margin on sales for each of the four quarters of 2020 under both the integral and discrete approaches. (Round answers to 1 decimal place, 52.5%) Profit margin on sales 1st Quarter 2nd Quarter 3rd Quarter Integral approach * % Discrete approach e Textbook and Media Sao Attempts I of used SulAna (a) Your answer is incorrect. Determine the amount of net income Novak will report in each of the four quarters of 2020, assuming actual sales are as projected and employing the integral approach to interim financial reporting llenare income taxes.) Repeat the analysis under the discrete approach. Round answers to decimal places, e 5.125) Quarter 2nd Quarter 3rd Quarter 4th Quarter $ $ $ $ e Textbook and Media Sow for er Attempts: 1 of 3 used Su Arawer (51) 61 Your answer is incorrect Compute Novak's profit margin on sales for each of the four Quarters of 2020 under both the integral and discrete approaches Round answers to 1 decimal places. 52.5%) Profit margin on sales arter 2nd Quarter 3rd Quarter 4th Quarter % 9 96 93 14 M
