Income computation for a manufacturing firm The following data relate to Crystal Chemical corporation for the year ended December 31, 2008 (amounts in million of euros) The company incurred manufacturing const (direct material, direct labor, and manufacturing overhead) during the year total not 28,044 Sales revenue was not 2,632, marketing and administrative expense were not 2,436, and interest expenses were not 828 The income tax rate 35 Compute net income for the year December 31, 2007 452 December 31, 2008 373 Raw Materials Inventory Work in Process Inventory Finished Goods Inventory 837 843 2,396 2,523

Question: Income computation for a manufacturing firm. The following data relate to Crystal Chemical corporation for the year ended December 31, 2008 (amounts in million of

Income computation for a manufacturing firm. The following data relate to Crystal Chemical for the year ended December 31, 2008 (amounts in million of euros):

The company incurred manufacturing const (direct material, direct labor, and manufacturing overhead) during the year total ‚¬28,044. Sales revenue was ‚¬2,632, marketing and administrative expense were ‚¬2,436, and interest expenses were ‚¬828. The income tax rate 35%. Compute net income for the year.

December 31, 2007 452 December 31, 2008 373 Raw Materials Inventory.. Work-in-Process Inventory Finished Goods Inventory.. 837 843 2,396 2,523

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