NovaTech Inc.'s CVP income statement includes sales of 3,200 units, a selling price of $95 per unit, variable expenses of $55 per unit, and fixed expenses of $75,000. What is the net income? a. $28,000 b. $35,000 c. $43,000 d. $53,000

NovaTech Inc.'s CVP income statement includes sales of 3,200 units, a selling price of $95 per unit, variable expenses of $55 per unit, and fixed expenses of $75,000. What is the net income? a. $28,000 b. $35,000 c. $43,000 d. $53,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

100%

What is the net income?

NovaTech Inc.'s CVP income statement includes sales of
3,200 units, a selling price of $95 per unit, variable
expenses of $55 per unit, and fixed expenses of
$75,000. What is the net income?
a. $28,000
b. $35,000
c. $43,000
d. $53,000

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