What was net income for the first year in operation

Assignment Help Financial Accounting

Reference no: EM131268164

During its first year of operations, Silverman Company paid $10,285 for direct materials and $9,800 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8,800 while general, selling, and administrative expenses totaled $4,300. The company produced 5,450 units and sold 3,300 units at a price of $7.80 a unit.

What was Silverman's net income for the first year in operation? (Do not round intermediate calculations.)

a. $21,440

b. $5,655

c. $16,940

d. $3,950

Reference no: EM131268164

Questions Cloud

What is the probability that the person will purchase a car : What is the probability that the person will purchase a car that averages less than 20 miles per gallon for in-city driving? What is the probability that the person will purchase a car that averages between 25 and 29 miles per gallon for in-city dri..

What happened as a result of the dreyfus affair : What happened as a result of the Dreyfus affair? As an immediate result of the Battle of Trafalgar

Heart of strategizing : "Situational analysis is at the heart of strategizing and should be done both internally and externally." Why do you agree with this quote? As best you can, fully explain your answer.

What was net income for the first year in operation : During its first year of operations, Silverman Company paid $10,285 for direct materials and $9,800 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8,800 while general, selling, and administrative..

Traditional or commercial marketing with social marketing : As best you can, explain the concept of the "marketing mix" and it four components (the four "P"s). Be as specific as you can and provide examples of each. Briefly compare and contrast traditional or commercial marketing with social marketing.

What kind of information would you look for : What kind of information would you look for? What evidence would you provide to demonstrate the effectiveness of the program? Support your answer with credible sources.

Find the regression line for these data : The operations manager of a musical instrument distributor feels that demand for bass drums may be related to the number of television appearance by the popular rock group Green Shades during the preceding month. Find the regression line for these da..

What is the primary reason for treaties between countries : What is the primary reason for treaties between countries? Democratic systems in which executives and legislatures are elected in separate elections for fixed terms of office are known as

User Account

All Pages