You are valuing a company using the WACC approach and have estimated that the free cash flows from the firm (FCFF) in the next five years will be $35.0, $40.2, $43.9, $46.9, and $47.2 million, respectively. Beginning in year 6, you expect the cash flows to decrease at a rate of 4 percent per year for the indefinite future. You estimate that the appropriate WACC to use in discounting these cash flows is 12 percent. What is the value of this company? (Round answer to 2 decimal places, e. g. 52.75.) Value of company
$
million

The following cost data relate to the manufacturing activities of chang company during the just completed year: manufacturing overhead costs incurred: indirect materials $ 15,800 indirect labor 138,000 property taxes, factory 8,800 utilities, factory 78,000 depreciation, factory 150,600 insurance, factory 10,800 total actual manufacturing overhead costs incurred $ 402,000 other costs incurred: purchases of raw materials (both direct and indirect) $ 408,000 direct labor cost $ 68,000 inventories: raw materials, beginning $ 20,800 raw materials, ending $ 30,800 work in process, beginning $ 40,800 work in process, ending $ 70,800 the company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. a total of 20,500 machine-hours were used during the year. required: 1. compute the amount of underapplied or overapplied overhead cost for the year. 2. prepare a schedule of cost of goods manufactured for the year.

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