Wallis Company produces circuit boards in a foreign country that imposes a 15 percent VAT. This year, Wallis manufactured 8.2 million boards at a $6.40 material cost per unit. Wallis's labor and overhead added $1.28 to the cost per unit. Wallis sold the boards to various customers for $9.60 per unit for a net profit of $1.92 per unit. Required: How much VAT does Wallis Company owe? Note: Enter your answer in dollars not in millions of dollars. VAT $ 11,808,000

Wallis Company produces circuit boards in a foreign country that imposes a 15 percent VAT. This year, Wallis manufactured 8.2 million boards at a $6.40 material cost per unit. Wallis's labor and overhead added $1.28 to the cost per unit. Wallis sold the boards to various customers for $9.60 per unit for a net profit of $1.92 per unit. Required: How much VAT does Wallis Company owe? Note: Enter your answer in dollars not in millions of dollars. VAT $ 11,808,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter13: Emerging Topics In Managerial Accounting

Section: Chapter Questions

Problem 48E

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