If you give me correct answer this general accounting question I will give you helpful rate Galaxy Electronics sold 4,500 units in 2020 at $600 each.Variable costs: $450 per unitFixed costs: $250,000What was Galaxy Electronics' 2020 net income?A. $275,000B. $325,000C. $400,000D. $425,000

Step 1: Define Net IncomeNet Income is the total profit a company earns after deducting all expenses…

Answered: Galaxy Electronics sold 4,500 units in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Galaxy Electronics sold 4,500 units in 2020 at $600 each. Variable costs: $450 per unit Fixed costs: $250,000 What was Galaxy Electronics' 2020 net income? A. $275,000 B. $325,000 C. $400,000 D. $425,000