asked 42.2k views
3 votes
The manager of brick company is given a bonus based on income before income taxes. net income, after taxes, is $5,600 for fifo and $4,900 for lifo. the tax rate is 30%. the bonus rate is 20%. how much higher is the manager's bonus if fifo is adopted instead of lifo?

1 Answer

2 votes
The answer is 700 . Hope it helps
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