The manufacturing budgets include the sales budget and the budgeted income statement.
Answer the following statement true (T) or false (F)
False
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Winters, Inc, pays its managers a bonus consisting of 7% of net income (income after deduction of both bonus and income taxes). The company's income tax rate is 20%. Income for the current year is $600,000. How much bonus would be paid for the current year (rounded to whole dollars)?
a. $42,000 b. $33,600 c. $31,818 d. $31,248
The argument for drug testing is based on the 4th Amendment
Indicate whether the statement is true or false
The financial statements of Tin Company included the following: Sales$1,000,000 Gross margin 300,000 Ending Inventory 100,000 Based on the information provided, what was the company's cost of goods sold?
A. $200,000 B. $900,000 C. $700,000 D. $600,000
Which of the following would disqualify an individual from receiving unemployment compensation?
a. to be confined to a hospital for 6 months following an accident on the job b. to be actively seeking work c. to be ready for work d. not unemployed as a result of a labor strike e. to not have quit the job