Alpine Productions uses a standard cost system for recording transactions. Alpine reported the following data for the year ended December 31:
Sales revenues: $800,000
Cost of goods sold (standard costing): $382,000
Selling & administrative expenses: $105,000
What is the net operating income on a standard cost income statement?
A) $312,665
B) $316,765
C) $421,765
D) $313,000
B) $316,765
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Fill in the blank(s) with the appropriate word(s).
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Answer the following statement true (T) or false (F)