00:34:50 Selling and administrative expenses:\ Selling\ Administrative\ Net operating income\ \\\\table[[

$100,000

,],[110,000,210,000]]\ On average, a book sells for

$40.00

. Variable selling expenses are

$3.00

per book; the remaining selling expenses are fixed. The variable administrative expenses are

5%

of sales; the remainder of the administrative expenses are fixed.\ The contribution margin for the University Store for the first quarter is:

On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed. The contribution margin for the University Store for the first quarter is: On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed. The contribution margin for the University Store for the first quarter is