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  1. Hathaway Inc. produces and sells golf umbrellas to local resorts. Hathaway anticipates April to be a busy month with the sale of 1000 umbrellas. The company has prepared the following static budget for April:


    Sales revenue (1000 units) $40 000

    Variable costs:

    Direct materials 5000

    Direct labour   6000

    Overhead   1500

    Fixed costs 4000

    Net income $23 500

    During April, Hathaway actually produced and sold 1300 umbrellas. What should be Hathaway’s net income in April based on a flexible budget?

    $31 750

    $31 500

    $23 500

    $35 500

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