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Question - Thompson Company makes and sells power tools. The budgeted sales are $450,000, the budgeted variable costs are $150,000, and the budgeted total fixed cost is $230,000. What is the budgeted operating income?
a. $70,000
b. $73,000
c. $567,000
d. $300,000
e. $220,000
in order for companies to prepare and issue financial statements their accounting equations debits and credits must be
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