Tee Times, Inc. produces and sells the finest quality golf clubs in all of Clay County. The company expects the following revenues and costs in 2004 for its Elite Quality golf club sets:

Revenues (400 sets sold @ $600 per set) $240,000

Variable costs 160,000

Fixed costs 50,000

What amount of sales must Tee Times, Inc. have to earn a target net income of $63,000 if they have a tax rate of 30 percent?

Blake Corporation has the following data for use of its machinery

Month Usage Cost

Jun 600 $750

Jul 650 775

Aug 420 550

Sept 500 650

Oct 450 570

Refer to Blake Corporation. Using the high-low method, compute the fixed cost element (to the nearest whole dollar).