Question 1 1 pts Carney's current income statement shows the following: $500,000 Sales revenue Cost of goods sold Variable costs Fixed costs Gross profit Selling and administrative expenses Variable costs Fixed costs $150,000 150,000 300,000 200,000 100,000 50,000 150,000 $50,000 Net income What is Carney's margin of safety? $125,000 $100,000 $50,000 $166,667 Question 2 1 pts Truman Company has developed a new gadget with the following cost information Variable manufacturing costs: $25 per unit Fixed manufacturing costs: $60,000 Variable selling and administrative costs: $2 per unit Fixed selling and administrative costs $10,000. Truman expects to produce and sell 10,000 units. It must invest $800,000 in equipment to produce the gadgets and it desires a 15% return on investments. Using cost-plus pricing, what is Truman Company's selling price for one gadget? $43 $46 $55 $49 Question 3 1 pts The following data is available for HVAC Specialists: Repair specialists' wages $ 150,000 Repair specialists' fringe benefits 60,000 Purchasing and parts' inventory manager's wages 40,000 Purchasing and parts' inventory manager's fringe benefits 15,000 Human resources' employee salary and benefits 50,000 (90% of HR employee's time applies to repair specialists and 10% to parts' employee) The desired profit margin is $25 per labor hour and 60% for parts and materials. HVAC estimates that repair specialists will incur 6,000 labor hours during the year and the total invoice cost of parts and materials will be $250,000. Using time and material pricing, compute the total bill (rounded to whole dollars) for a job that required 10 hours of labor and $1,000 of parts. $2,290 $2,655 $2,375 $2,515