Calculate the projected net incomeloss for the first year

Reference no: EM13571076

Calculate the projected net income/(loss) for the first year. This should be in the form of an simple income statement including captions for revenue, cost of goods sold (do not round.), gross profit, operating expenses, and net income/(loss). All operating expenses must be listed individually. Do not round.

Account Name	Annual Amount
Office Supplies	$500
Factory Utilities	$2400
Sales Commissions	$40000
Factory Equipment Depreciation	$500
Factory Rent	$5000
Advertising	$12000
Factory Manager's Salary	$35000*
Indirect Labor	$35000
Office Utilities	$600
Factory Insurance	$3600
Office Maintenance (Annual Contract)	$200
Sales Salaries	$60000*
Office Equipment Depreciation	$1200
Indirect Materials	$5000
Freight-Out	$200000
Factory Equipment Repairs (based on expected quarterly service calls)	$800

Each flower costs $8.14 to manufacture. A worker can make 12 flowers an hour. They work an 8 hour work day. There are 5 workers. Each worker is paid $14.25 an hour and work 1952 hours a year. The goal is to produce 100,000 in a year with no ending inventory left over. Flowers sold at 15.75 per flower.

Reference no: EM13571076

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