“Kaufmann Company recorded the following data for the month of January, 19X5: Inventories 1/1/X5 1/31/X5 Raw Materials 22,000 21,000 Work in process 16,000 13,000 Finished goods 20,000 25,000 Additional data: Sales revenue $200,000 Direct labor costs 30,000 Manufacturing overhead costs 70,000 Selling expenses 15,000 Administrative expenses 25,00073. Assume that the cost of goods sold for January was $120,000. The net income for January would be: a. $35,000 b. $65,000 c. $55,000 d. $40,000”,”4Net Income for January: Sales $200,000 – Cost of Goods Sold 120,000 = Gross Margin 80,000 – Selling & Adm. Expenses 40,000 Net Income $ 40

“Kaufmann Company recorded the following data for the month of January, 19X5: Inventories 1/1/X5 1/31/X5 Raw Materials 22,000 21,000 Work in process 16,000 13,000 Finished goods 20,000 25,000 Additional data: Sales revenue $200,000 Direct labor costs 30,000 Manufacturing overhead costs 70,000 Selling expenses 15,000 Administrative expenses 25,00073. Assume that the cost of goods sold for January was $120,000. The net income for January would be: a. $35,000 b. $65,000 c. $55,000 d. $40,000”,”4Net Income for January: Sales $200,000 – Cost of Goods Sold 120,000 = Gross Margin 80,000 – Selling & Adm. Expenses 40,000 Net Income $ 40

000″