Information from the Records of Island Timberlands Inc What Is the Net Income for the Month of November

question 21

Multiple Choice

Information from the records of Island Timberlands Inc.for November is as follows: $\begin{array}{lr}\text { Sales } & \$ 820,000 \\\text { Selling and administrative expenses } & 140,000 \\\text { Direct materials purchases } & 176,000 \\\text { Direct labour } & 200,000 \\\text { Factory overhead } & 270,000 \\\text { Direct materials, November 1 } & 24,000\\\text { Work in process, November } 1 & 50,000 \\\text { Finished goods, November } 1 & 46,000 \\\text { Direct materials, November } 30 & 28,000 \\\text { Work in process, November } 30 & 56,000 \\\text { Finished goods, Novmeber } 30 & 38,000\end{array}$ What is the net income for the month of November?

• A) $36,000
• B) $180,000
• C) $636,000
• D) $644,000

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