PLEASE HELP ME WITH THE QUESTIONS FROM 1 TO 10. THANK YOU

1. What is the Gross Margin? Refer to the Income Statement shown.

2. What are total amount of operating expenses? Refer to the Income Statement shown.

3. What is the Operating Income before Taxes? Refer to the Income Statement shown.

4. If the beginning Finished Goods inventory had a balance of $140 (in thousands) and purchases of inventory equaled $6,350 (in thousands) what is the value of ending Finished Goods inventory?

Group of answer choices

a. 470

b. No answer text provided.

c. No answer text provided.

d. No answer text provided.

5. Suppose administrative salaries, rent and occupancy costs, and allocated corporate support are fixed costs. Consider revenues, cost of goods sold, advertising, and sales commissions to be variable. What is the projected Operating Income before Taxes if the volume of sales increases by 10%? You many need information from the Income Statement shown.

6. Select the term or phrase that best describes the following: A charge against Revenue in the current period.

Group of answer choices

Product Costs

Operating Expenses

Raw Materials Inventory

Fixed Costs

7. Select the term or phrase the term that best describes the following: Product costs associated with revenues in the current period.

Group of answer choices

Product Costs

Margin of Safety

Cost of Goods Manufactured

Cost of Goods Sold

8. Select the term or phrase the term that best describes the following: Products available for Sale.

Group of answer choices

Operating Expenses

Raw Materials Inventory

Work in Process Inventory

Finished Goods Inventory

9. Select the term or phrase the term that best describes the following: Any cost where the total amount of the cost increases proportionately to a level of activity such as sales volume.

Group of answer choices

Direct Costs

Finished Goods Inventory

Variable Costs

Fixed Costs

10. Select the term or phrase the term that best describes the following: On a variable costing income statement the result of subtracting variable costs from revenues.

Group of answer choices

Cost of Goods Manufactured

Contribution Margin

Period Costs

Fixed Costs