This year Amelia has projected sales of $600,000 with a margin of $250,000. She has budgeted...

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This year Amelia has projected sales of $600,000 with a margin of $250,000. She has budgeted the following overhead: Owner Salary Employee Wages Rent Advertising Supplies Telephone Other utilities Insurance Payroll Taxes Maintenance: Legal and other professional fees 35,000 100,000 10,000 4,200 1,000 1,000 600 2,000 30,000 3.700 500 Miscellaneous Interest on Loan Total Overhead Expenses If taxes are 20% of Net Income, what is the planned profit for the year? 2,000 10,000 200,000 This year Amelia has projected sales of $600,000 with a margin of $250,000. She has budgeted the following overhead: Owner Salary Employee Wages Rent Advertising Supplies Telephone Other utilities Insurance Payroll Taxes Maintenance: Legal and other professional fees 35,000 100,000 10,000 4,200 1,000 1,000 600 2,000 30,000 3.700 500 Miscellaneous Interest on Loan Total Overhead Expenses If taxes are 20% of Net Income, what is the planned profit for the year? 2,000 10,000 200,000

Answer rating: 100% (QA)

To calculate the planned profit for the year we need to subtract the total overhead ex... View the full answer