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gerial Accounting (sections 03, 05, & 85) The University Store, Inc. is the major bookseller for four nearby colleges. An income Chcit for the first quarter of the year is presented below: University Store, Inc. Income Statement For the Quarter Ended March 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Selling 210.000 Administrative $ 30,000 Net operating income S 800,000 560,000 240,000 $ 100,000 110,000 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 net operating income computed using the contribution approach for the first quarters A) S30,000 B) $180,000 C) S140,000 D) SO 15) Supply costs at Coulthard Corporation's chain of gyms are listed below: Client-Visits Supply Cost March 11.688 $28,350 April 11,464 $28,301 May 11,996 $28,429 June 14,100 S28,934 July 11,728 $28,365 August 11.214 $28,241 September 12,008 $28.432 October 11,669 $28,358 November 11,847 $28,393 Management believes that supply cost is a mixed cost that depends on client.visits. Use the high- low method to estimate the variable and fixed components of this cost. Compute the variable component first, rounding off to the nearest whole cent. Then compute the fixed component, rounding off to the nearest whole dollar. Those estimates are closest to: (Round your intermediate calculations to 2 decimal places.) A) S1.93 per client-visit; $28,366 per month B) $0.24 per client-visit: $25,550 per month C) $0.28 per client-visit; $25,045 per month D) $0.82 per client-visit; $18,492 per month