Clay Corporation manufactures and sells hand painted clay figurines. Shown below are some of the costs incurred by the company last year Cost of clay used in production $83,000 Wages paid to the workers who paint the figurines $90,000 Wages paid to the sales manager's secretary $42,000 Cost of junk mail advertising $59,000 What is the total of the product costs above? Multiple Choice $0 $0 $101.000 $173,000 $191,000 Below is an income statement for City Books for the first quarter of the year. City Books Income Statement For Quarter Ended March 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling Administration Net operating income $840,000 520,000 320,000 $111,000 126,000 237,000 $ 83,000 On average, a book sells for $70. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed. If a contribution format income statement were produced, what would be the net operating income for the first quarter? If a contribution format income statement were produced, what would be the net operating income for the first quarter? Multiple Choice $320,000 $260,000 $83,000 $226,400