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Wallis Company produces circuit boards in a foreign country that imposes a 15 percent VAT. This year, Wallis manufactured 6.5 million boards at a $3.00
Wallis Company produces circuit boards in a foreign country that imposes a 15 percent VAT. This year, Wallis manufactured 6.5 million boards at a $3.00 material cost per unit. Wallis's labor and overhead added $0.60 to the cost per unit. Wallis sold the boards to various customers for $4.50 per unit for a net profit of $0.90 per unit. Required: How much VAT does Wallis Company owe? Note: Enter your answer in dollars not in millions of dollars. VAT
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