Given the following data, answer the questions below the table: -------------------------------------------------------------------------------------------------------------------------------- Data Sales $83,000 Variable costs:...

Question

Question

Given the following data, answer the questions below the table: -------------------------------------------------------------------------------------------------------------------------------- Data Sales $83,000 Variable costs:...

Given the following data, answer the questions below the table:

--------------------------------------------------------------------------------------------------------------------------------

Data
Sales	$83,000
Variable costs:
Cost of goods sold	$54,000
Variable selling	$5,400
Variable administrative	$5,200
Fixed costs:
Fixed selling	$2,500
Fixed administrative	$1,500

--------------------------------------------------------------------------------------------------------------------------------

What is the gross margin?

What is the net operating income?

What is the contribution margin?

business accounting

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Answer 1

Answer #1

Gross margin:

Sales	$83,000
Cost of goods sold	($54,000)
Gross margin	$29,000

Net operating income:

Sales		$83,000
Variable costs:
Cost of goods sold	$54,000
Variable selling	$5,400
Variable administrative	$5,200	$64,600
Fixed costs:
Fixed selling	$2,500
Fixed administrative	$1,500	$4,000
Net operating income		$14,400

Contribution margin:

Sales		$83,000
Variable costs:
Cost of goods sold	$54,000
Variable selling	$5,400
Variable administrative	$5,200	$64,600
Contribution margin		$18,400

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Answer 2

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