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Home Q & A Board Other Fields Homework Help Business Accounting
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Navyseal Navyseal
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5 years ago
The following information pertains to the January operating budget for Murphy Corporation, a retailer:

Budgeted sales are $208,000 for January
Collections of sales are 60% in the month of sale and 40% the next month
Cost of goods sold averages 64% of sales
Merchandise purchases total $154,000 in January
Marketing costs are $3,600 each month
Distribution costs are $5,000 each month
Administrative costs are $10,500 each month

For January, budgeted gross margin is ________.
A) $124,800
B) $133,120
C) $74,880
D) $54,000
Textbook 
Cost Accounting: A Managerial Emphasis

Cost Accounting: A Managerial Emphasis


Edition: 16th
Authors:
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Jojo2youJojo2you
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5 years ago
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Navyseal Author
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#2
5 years ago
Enough said, this helped my grade so much
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#3
5 years ago
Perfect
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