{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T02:35:32-04:00", "answer_date": "2024-06-29 02:35:32", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4450042", "url": "\/study-help\/questions\/lionel-corporation-manufactures-pharmaceutical-products-sold-through-a-network-of-4450042", "question_creation_date_js": "2024-06-29T02:35:32-04:00", "question_creation_date": "Jun 29, 2024 02:35 AM", "meta_title": "[Solved] Lionel Corporation manufactures pharmaceu | SolutionInn", "meta_description": "Answer of - Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents in the United States an | SolutionInn", "meta_keywords": "lionel,corporation,manufactures,pharmaceutical,products,sold,network,sales,agents,united,states,canada", "question_title_h1": "Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents in the United States and Canada. The agents are currently paid an 18%", "question_title": "Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents", "question_title_for_js_snippet": "Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents in the United States and Canada The agents are currently paid an 18 commission on sales that percentage was used when Lionel prepared the following budgeted income statement for the fiscal year ending June 30, 2019 Lionel Corporation Budgeted Income Statement For the Year Ending June 30, 2019 ($000 omitted) Sales $ 30, 000 Cost of goods sold Variable $ 13 , 500 Fixed 3, 600 17 , 100 Gross profit $ 12,900 Selling and administrative costs Commissions $ 5,400 Fixed advertising cost 900 Fixed administrative cost 2, 400 8, 700 Operating income $ 4,200 Fixed interest cost 750 Income before income taxes $ 3, 450 Income taxes (30$) 1, 035 Net income $ 2, 415", "question_description": "

Lionel Corporation manufactures pharmaceutical products sold through a network of sales agents in the United States and Canada. The agents are currently paid an 18% commission on sales; that percentage was used when Lionel prepared the following budgeted income statement for the fiscal year ending June 30, 2019:<\/p>

<\/p>

\"image<\/div><\/div><\/div> Lionel Corporation Budgeted Income Statement For the Year Ending June 30, 2019 ($000 omitted) Sales $ 30, 000 Cost of goods sold Variable $ 13 , 500 Fixed 3, 600 17 , 100 Gross profit $ 12,900 Selling and administrative costs Commissions $ 5,400 Fixed advertising cost 900 Fixed administrative cost 2, 400 8, 700 Operating income $ 4,200 Fixed interest cost 750 Income before income taxes $ 3, 450 Income taxes (30$) 1, 035 Net income $ 2, 415", "transcribed_text": "", "related_book": { "title": "Accounting Principles", "isbn": "1119491630, 978-1119491637, 978-0470534793", "edition": "10th Edition", "authors": "Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/54.jpg", "uri": "\/textbooks\/accounting-principles-10th-edition-54", "see_more_uri": "" }, "free_related_book": { "isbn": "1630061573", "uri": "\/textbooks\/real-teams-win-what-smart-leaders-need-to-know-now-about-achieving-peak-performance-1st-edition-9781630061579-9781630061586", "name": "Real Teams Win What Smart Leaders Need To Know Now About Achieving Peak Performance", "edition": "1st Edition" }, "question_posted": "2024-06-29 02:35:32", "see_more_questions_link": "\/study-help\/questions\/business-finance-2024-September-13", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/find-the-highest-and-lowest-points-on-the-curve-x2", "description": "Find the highest and lowest points on the curve x2 + xy + y2 = 12.", "stars": 3 }, { "url": "\/study-help\/psychology\/what-are-some-of-the-topics-studied-1980905", "description": "What are some of the topics studied?", "stars": 3 }, { "url": "\/biotechtron-inc-has-two-research-laboratories-in-the-southwest-one", "description": "Biotechtron, Inc., has two research laboratories in the Southwest, one in Yuma, Arizona, and the other in Bernalillo, New Mexico. 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