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What is the bonus for the current year for gretchen company

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Reference no: EM132786943

After three profitable years, Gretchen Company decided to offer a bonus to the branch manager ot 25% of income over P1,000,000 earned by the branch during the current year.

  • The income for the branch was P1,600,000 before tax and before bonus for the current year.
  • The bonus is computed on income in excess of P1,000,000 after deducting the bonus but before deducting tax.

Question 1: What is the bonus for the current year?

a. 120,000

b. 150,000

c. 250,000

d. 320,000

Reference no: EM132786943

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