Paulson Corp produces tortilla chips and charges $3.00 per bag. In September they produced 20,000 bags of chips and incurred the following costs: Materials $20,000 Labor 16,000 Rent 12,000 Depreciation 5,000 Insurance 1,900 Prepare a budget assuming they will produce 30,000 bags of chips for October What is projected Net Income for 30,000 units? a) $17,100 c) $54.900 b) $5,100 d) $72.900 Paper Street Soap Company had the following balances at the beginning of September Work in process - $18,000 Finished goods - $24,000 At the end of September, the balances were Work in process - $14,000 Finished goods - $17,000 During the month Paper Street incurred the following costs: Direct materials - $125,000 Direct labor - $160,000 Manufacturing overhead applied - $250,000 What is the cost of goods sold for September? b) $539,000 O c) $553,000 d) $563,000 a) $546,000