Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 24 1 pts Neptune Corporation has a sales forecast of $10,949,417 million and has set a goal to earn $4,452,821 in net income in
Question 24 1 pts Neptune Corporation has a sales forecast of $10,949,417 million and has set a goal to earn $4,452,821 in net income in the coming year. The firm manufactures heat resistant components for gas turbine engines that sell for $4,743 each. This firm has a 60% contribution margin, a 21% tax rate, and no outstanding debt. What will be the fixed costs in the next year should the firm reach its goal? SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND OFF THE FINAL ANSWER TO THE NEAREST WHOLE NUMBER. FOR EXAMPLE IF YOUR ANSWER IS 1,000,000.98 THEN ENTER YOUR ANSWER AS 1000001 ONLY. DO NOT ENTER ANY SYMBOLS
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started