(Answered) Question - month may june sales 200000 210000 cost of goods

Accounting

Question - Month May June Sales 200,000 210,000 Cost of Goods Sold (CGS) 65% Variable Cost (VC) 20% Monthly Fixed Costs (FC) 12,000 Depreciation included in FC 4,000 Inventory, ending 40% of next month CGS Beginning Inventory 52,000. What is net income for May?

1. between $17,500 and $ 18,500

2. between $18,500 and 19,500

3. between $21,500 and $22,500

4. between $24,500 and $25,500

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