Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rimier Corp. forecasts sales of $646,000 for 2020 . Assume the firm has foxed costs of $246,000 and variable costs amounting to 34% of sales.

image text in transcribed
image text in transcribed
Rimier Corp. forecasts sales of $646,000 for 2020 . Assume the firm has foxed costs of $246,000 and variable costs amounting to 34% of sales. Operating expenses are estimated to include fixed costs of $30,000 and a variable portion equal to 8.9% of sales. Interest expenses for the coming year are estimated to be $25,000. Estimate Rimier's net profits before taxes for 2020. Compute the estimated net profits before taxes below: (Round to the nearest dollar.) Get more help - Rimier Corp. forecasts sales of $646,000 for 2020 . Assume the firm has fixed costs of $246,000 and variable costs amounting to 34% of sales. Operating expenses are estimated to include fixed costs of $30,000 and a variable portion equal to 8,9% of sales. Interest expenses for the coming year are estimated to be $25,000. Estimate Rimier's net profits before taxes for 2020

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Finance questions