Number of units sold= $840000/60= 14000 units
Sales | $840000 | |
Less: Variable expenses | ||
Cost of goods sold | 525000 | |
Variable selling expenses (14000*$6) | 84000 | |
Variable administration expenses ($840000*5%) | 42000 | |
Total variable expenses | 651000 | |
Contribution margin | $189000 |
Contribution margin for Sam's Bookstore for the first =$189000
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An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales $ 880,000 Cost of goods sold 550,000 Gross margin 330,000 Selling and administrative expenses Selling $117,000 Administration 138,000 255,000 Net operating income $ 75,000 On average, a book sells for $55. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with...
An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales $ 980,000 Cost of goods sold 680,000 Gross margin 300,000 Selling and administrative expenses Selling $ 110,000 Administration 124,000 234,000 Net operating income $ 66,000 On average, a book sells for $70. Variable selling expenses are $4 per book with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales...
An income statement for Sam's Bookstore for the first quarter of the year is presented below: An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales $ 910,000 Cost of goods sold 530,000 Gross margin 380,000 Selling and administrative expenses Selling $ 113,000 Administration 130,000 243,000 Net operating income $ 137,000 On average, a book sells for $70. Variable selling expenses are $5 per...
An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $900,000 630,000 270,000 $100,000 104,000 204,000 $ 66,000 On average, a book sells for $50. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the...
An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales $910, 000 Cost of goods sold Gross margin Selling and administrative expenses 645, 000 265,000 Selling $103,000 Administration 110,000 213,000 Net operating income $ 52,000 On average, a book sells for $65. Variable selling expenses are $6 per book with the remaining selling expenses being fixed. The variable administrative expenses are 5% of sales...
An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $900,000 635,000 265,000 $101,000 106,000 207,000 $ 58,000 On average, a book sells for $60. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales with the...
An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales $ 900,000 Cost of goods sold 630,000 Gross margin 270,000 Selling and administrative expenses Selling $ 100,000 Administration 104,000 204,000 Net operating income $ 66,000 On average, a book sells for $50. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales...
An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement Por Quarter Ended March 31 Sales $950,000 Cost of goods sold 660,000 Gross margin 290,000 Selling and administrative expenses Selling $ 106,000 Administration 116,000 222,000 Net operating income $ 68,000 On average, a book sells for $50. Variable selling expenses are $4 per book with the remaining selling expenses being fixed. The variable administrative expenses are 5% of sales with...
An Income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $880,000 540,000 340,000 $115,000 134,000 249,000 $ 91,000 On average, a book sells for $55. Variable selling expenses are $6 per book with the remaining selling expenses being fixe The cost formula for selling and administrative expenses with "X"...
An income statement for Bob's Bookstore for the first quarter of the year is presented below: Bob's Bookstore Income Statement For Quarter Ended March 31 Sales $ 880,000 Cost of goods sold 550,000 Gross margin 330,000 Selling and administrative expenses Selling $ 117,000 Administration 138,000 255,000 Net operating income $ 75,000 On average, a book sells for $55. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales...