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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Definitions:

Oxidation

A chemical process involving the loss of electrons or an increase in oxidation state by a molecule, atom, or ion.

Chromium

A chemical element with symbol Cr and atomic number 24, known for its high corrosion resistance and hardness.

Organic Product

Compounds primarily composed of carbon atoms, resulting from the synthesis in organic chemistry.

Major Structure

Refers to the principal arrangement or configuration of atoms within a molecule, often determining its chemical behavior.