Cook Co. reports the following information for the current year:
Saper Sandpaper $ 17,000
Di...
Business, 12.10.2020 14:01, hihudgins902
Cook Co. reports the following information for the current year:
Saper Sandpaper $ 17,000
Direct labor 680,000
Small tools 100,000
Materials inventory, Jan 1 120,000
Materials inventory, Dec 31 86,000
Materials purchased 980,000
Machine helpers’ salaries 86,000
Finished Goods, Jan 1 210,000
Finished Goods, Dec 31 400,000
Sales 4,000,000
Leasing costs, plant 120,000
Work-in-process, Jan 1 30,000
Work-in-process, Dec 31 20,000
Depreciation, plant 70,000
Sales Commissions 200,000
Property taxes, plant 10,000
Insurance, factory equipment 5,000
Sales salaries 180,000
Advertising costs 150,000
Office administration costs 250,000
Units completed 82,000
Compute the Net Income (loss) assuming that Cook Co. is in the 30% tax bracket?
a) $1,454,600
b) $1,431,000
c) $1,298,000
d) $908,600
Answers: 1
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