Module 1 Quiz i Submitted 0/20 Total points awarded Help Ex Sales $ 840, 000 9 Cost of goods sold 545, 000 Gross margin 295, 000 Selling and administrative expenses Selling $ 116, 000 Administrative 136, 000 252, 000 0/2 Net operating income $ 43, 000 points awarded Scored On average, a book sells for $60. Variable selling expenses are $4 per book with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales with the remainder being fixed. The contribution margin for Sam's Bookstore for the first quarter is: Mc 9 of 10 Next >