Question
Tauros Books, Inc. is a major bookseller for four nearby colleges. On average, a book sells for 1,250. Variable selling expenses are 120 per book;
Tauros Books, Inc. is a major bookseller for four nearby colleges. On average, a book sells for 1,250. Variable selling expenses are 120 per book; the remaining selling expenses are fixed. Variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed. The income statement for the quarter is as follows:
Tauros Books, Inc Income Statement For the quarter ended September 30, 2021 Sales 5,125,000 Less: Cost of Goods Sold 3,587,500 Gross Margin 1,537,500 Less: Operating Expenses Less: Selling Expenses 647,800 Less: Administrative Expenses 461,250 --> 1,109,050 Net Operating Income 428,450
The TOTAL CONTRIBUTIO MARGIN for the quarter amount to ________________.
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