Calculate the net income for this financial accounting question Lumino Tech Inc. sells a product for $55 per unit. The variablecost per unit is $30, and total fixed costs are $25,000. Thecorporate tax rate is 25%, and the company expects to sell 4,000units.Calculate the net income.

Step 1: Definition of Net IncomeNet Income is the profit a company earns after deducting all…

Answered: Lumino Tech Inc. sells a product for…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 7EB: Delta Co. sells a product for $150 per unit. The variable cost per unit is $90 and fixed costs are...

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Lumino Tech Inc. sells a product for $55 per unit. The variable cost per unit is $30, and total fixed costs are $25,000. The corporate tax rate is 25%, and the company expects to sell 4,000 units. Calculate the net income.