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Determine how much higher manager bonus if fifo is adopted

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Problem 1: The manager of Blossom is given a bonus based on net income before taxes. The net income after taxes is $ 71390 for FIFO and $ 59700 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO?

Option 1: $ 11690

Option 2: $ 23380

Option 3: $ 16700

Option 4: $ 3340

Reference no: EM132999267

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