Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lexington has a sales forecast of $10,134.982 mill

Lexington has a sales forecast of $10,134.982 million and has set a goal to earn...

70.2K

Verified Solution

Question

Accounting

image
Lexington has a sales forecast of $10,134.982 million and has set a goal to earn $4,356,709 in net income in the coming year. The firm manufactures heat resistant components for gas turbine engines that sell for $4,851 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

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students