Question
July August September October Sales $ 54,000 $ 84,000 $ 64,000 $ 59,000 Cost of goods sold 29,600 47,600 35,600 32,600 Gross margin 24,400 36,400
July
August
September
October
Sales
$
54,000
$
84,000
$
64,000
$
59,000
Cost of goods sold
29,600
47,600
35,600
32,600
Gross margin
24,400
36,400
28,400
26,400
Selling and administrative expenses:
Selling expense
11,400
14,500
9,900
8,700
Administrative expense*
6,350
8,600
7,500
7,300
Total selling and administrative expenses
17,750
23,100
17,400
16,000
Net operating income
$
6,650
$
13,300
$
11,000
$
10,400
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
16th edition
1259307417, 978-1260153132, 1260153134, 978-1259307416
