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Question - Ham & Ma, Inc. is submitting a bid to supply hammers for the Beijing Olympics Construction Company (BOCC). The BOCC will buy 3,000 hammers per year for the next 3 years. To supply the hammers, Ham & Ma must buy $175,000 worth of manufacturing equipment. The equipment has a 5-year life and will be depreciated for tax purposes on a straight-line basis. The contract is for 3 years, and Ham & Ma plans to sell the equipment at the end of 3 years for an estimated $55,000 (which is taxable). Additional fixed costs will total $42,000 per year and variable costs are expected to be $1.50 per hammer. An additional investment of $17,500 in net working capital will be required at the start of the project. This investment will be recovered at the end of 3 years. The firm's tax rate is 37% and the required rate of return is 17%. What is the lowest price that Ham & Ma can charge for the hammers?
For the year ending 30 June 2017, Besar Ltd made total sales to Kecil Ltd of $100,000, while Kecil sold $45,000 worth of inventory to Besar Ltd.
In its annual report for the year ended January 31, 2011, Virco Manufacturing Corporation , a producer of school desks and other furniture, provided the following information regarding a change in inventory method (in part):
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