Information from the operating budgets of Roswell Fabricators follows: Selling and administrative expenses $ 140,000 Factory overhead 200,000 Sales 1,000,000 Cost of goods sold 450,000 Capital expenditures 100,000 If Northwest's income tax rate is 30%, what is the budgeted net income?
a. $287,000
b. $126,000
c. $410,000
d. $186,000
a
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When overhead is debited to Overhead Control, what is the credit?
A) Various payable accounts B) Raw materials C) Supplies D) Equity E) None of these
The price variance for direct labor is called the:
A. direct labor rate variance. B. direct labor price variance. C. direct labor quantity variance. D. indirect labor variance.
In manufacturing systems, one way to achieve continuous improvement can be to maintain low inventories, and periodically cut safety stocks almost to zero
Indicate whether the statement is true or false
Because importers and exporters assume different risks, the most preferred way to conduct business and minimize these risks is: A) cash in advance
B) open account. C) documentary sale. D) all of the above.