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Question - The Hinckley Company manufactures electronic components for complex communication products. The company's income tax rate is 40%. The accountant has calculated pre-tax per- unit costs associated with the production and sale of 10,000 units of product XRT12 as follows:
Selling price $150
Direct materials 40
Direct labor 20
Variable manufacturing support costs 2
Fixed manufacturing support costs 25
Sales commissions (10% of sales) 15
Fixed administrative salaries 8
Required -
a. Calculate net income.
b. Assume 15,000 units are manufactured, but selling price must be reduced to $120 per unit to sell all production. What is the net income effect? Assume fixed costs do not change.
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