I need help with this problem and accounting question Pinnacle Manufacturing has cost of goods sold of $520,000 variableand $340,000 fixed. Their selling and administrative expenses are$180,000 variable and $275,000 fixed. If the company's sales revenueis $1,680,000, calculate their net income.

Step 1: Definition of Net IncomeNet Income is the amount of profit remaining after all expenses…

Answered: Pinnacle Manufacturing has cost of…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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Pinnacle Manufacturing has cost of goods sold of $520,000 variable and $340,000 fixed. Their selling and administrative expenses are $180,000 variable and $275,000 fixed. If the company's sales revenue is $1,680,000, calculate their net income.