Question
Restate the following income statement for a retail company in contribution margin format. Sales ($20 per unit) $14,000 Less cost of goods sold ($14 per
Restate the following income statement for a retail company in contribution margin format.
Sales ($20 per unit) | $14,000 | |
Less cost of goods sold ($14 per unit) | 9,800 | |
Gross margin | 4,200 | |
Less Operating costs: | ||
Salaries | $2,100 | |
Advertising | 200 | |
Rent | 1,000 | |
Delivery charges ($0.20 per unit) | 140 | 3,440 |
Operating Income | $ 760 |
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Cornerstones Of Financial Accounting
Authors: Jay Rich, Jeff Jones
3rd Edition
1285424409, 978-1285423678
