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Find how much higher is manager bonus if fifo is adopted

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Reference no: EM132956532

Problem 1: The manager of Blossom is given a bonus based on net income before taxes. The net income after taxes is $71390 for FIFO and $59700 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO?

Option 1: $23380
Option 2: $11690
Option 3: $3340
Option 4: $16700

Reference no: EM132956532

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