Our company is a price-taker and has the following information available for the current year: budgeted production, 220,000 units; desired operating income as a percentage of total assets, 16%; current market price of our product, $50.00 per unit; total assets, $12,000,000. What is our company's desired profit for the year?
$1,760,000
$1,920,000
$9,080,000
$11,000,000
Our company is a price-taker and has the following information available for the current year: budgeted production, 200,000 units; desired operating income as a percentage of total assets, 15%; current market price of our product, $50.00 per unit; total assets, $12,000,000. What is the full product cost for the year?
$1,500,000
$1,800,000
$8,200,000
$12,000,000