Question
Joy's Corp. sells the softest gloves available on the market. The information below is compiled by the firm for the last month. Total sales revenue
Joy's Corp. sells the softest gloves available on the market. The information below is compiled by the firm for the last month.
Total sales revenue $300,000
Selling price per pair of gloves $1,000
Variable selling expense per pair of gloves $100
Variable administrative expense per pair of gloves $37
Total fixed selling expense $79,000
Total fixed administrative expense $92,000
Beginning merchandise inventory $40,000
Ending merchandise inventory $20,000
Merchandise purchases $130,000
1) What was Joy's contribution margin for each pair of gloves sold during the month?
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