Multiple Choice
The manager of Weiser is given a bonus based on net income before taxes.The net income after taxes is $59,500 for FIFO and $49,000 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?
A) $15,000
B) $21,000
C) $3,000
D) $10,500
Correct Answer:
Verified
Correct Answer:
Verified
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