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An income statement for Sam's Bookstore for the first quarter of the year is presented below. On average, a book sells for $70. Variabie selling

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An income statement for Sam's Bookstore for the first quarter of the year is presented below. On average, a book sells for $70. Variabie selling expenses are $4 per book with the remaining selling expenses being fixed. The variable administrative. expenses are 3x of sales with the remainder being fored: The cost formula for selling and administrative expenses with " x ' equal to the number of books sold is

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