Equality Unlimited sold 15,000 units at $10 each. Per unit cost are: $1.50 variable selling expenses;...
Equality Unlimited sold 15,000 units at $10 each. Per unit cost are: $1.50 variable selling expenses; $0.75 direct material; $1.25 direct labor; $2 overhead. Fixed selling costs are $25,000 per year.
Net income is:
A) $65,000
B) $42,500
C) $150,000
D) $90,000
Homework Answers
Net Income = (no. of units sold * (selling price - variable selling expenses - direct material - direct labour - overheads)) - fixed cost
= (15000*(10-1.5-.75-1.25-2))-25000
= $ 42500
Thus the correct answer is B) $ 42500
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