Question
D Questions 12 through 16 are based on the following information Osprey Inc. has provided the following income statement for the month of June
D Questions 12 through 16 are based on the following information Osprey Inc. has provided the following income statement for the month of June 2022: Osprey Inc. Income Statement June 2022 Units sold Revenues Cost of goods sold 20,000 $ 300,000 Variable manufacturing costs 100,000 Fixed manufacturing costs 80,000 Total COGS 180.000 Gross Margin 120,000 Operating costs Variable marketing costs 40,000 Fixed marketing & admin costs 60,000 Total operating costs 100.000 Operating income 20,000 Income Tax (20% tax rate) 4,000 Net Income $ 16.000
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