SUBJECT = COST ACCOUNT Elgin Battery Manufacturers had sales of $870,000 in 2009 and their cost of goods sow represented 63 percent of sates. Selling and administrative expenses were 11 percent of sales. Depreciation expense was $14,000 and interest expense for me year was $14,000. The firm's tax rate is 26 percent. What is the dollar amount of taxes paid? a) $226,000 b) $99.718 c) $51.532 d) $55.172
SUBJECT = COST ACCOUNT Elgin Battery Manufacturers had sales of $870,000 in 2009 and their cost of goods sow represented 63 percent of sates. Selling and administrative expenses were 11 percent of sales. Depreciation expense was $14,000 and interest expense for me year was $14,000. The firm's tax rate is 26 percent. What is the dollar amount of taxes paid? a) $226,000 b) $99.718 c) $51.532 d) $55.172
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter6: Accounting For Financial Management
Section: Chapter Questions
Problem 3P
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Transcribed Image Text:SUBJECT = COST ACCOUNT
Elgin Battery Manufacturers had sales of $870,000 in 2009
and their cost of goods sow represented 63 percent of
sates. Selling and administrative expenses were 11 percent
of sales. Depreciation expense was $14,000 and interest
expense for me year was $14,000. The firm's tax rate is 26
percent.
What is the dollar amount of taxes paid?
a) $226,000
b) $99.718
c) $51.532
d) $55.172
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