Reynolds co. issued $72 million face amount of 10.75% bonds when market interest rates were 11.10% for bonds of similar risk and other characteristics.

required:
a.
how much interest will be paid annually on these bonds? (enter your answer in dollars, not millions of dollars, i. e. 1,234,567.)

b. were the bonds issued at a premium or discount?
c.
will the annual interest expense on these bonds be more than, equal to, or less than the amount of interest paid each year?

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)