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Home Q & A Board Other Fields Homework Help Business Accounting
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mlee52381 mlee52381
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A year ago
J Bryson, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31.

Sales revenue​$750,000
Cost of goods sold​300,000
Gross margin​450,000
Less operating expenses​​
  Selling expense$23,560​
  Administrative expense  49,500   73,060
Operating income​$376,940

Bryson sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 6% of sales.

Required:

a. Prepare a contribution format income statement for January.
b. Using the format y = mx + b, develop a cost formula for the operating expenses.
c. If 2,700 coats are sold next month, what is the expected total contribution margin?
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
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ugotpwned5ugotpwned5
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A year ago
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mlee52381 Author
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A year ago
Just got PERFECT on my quiz
54321abs
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Yesterday
Good timing, thanks!
branbran2k16
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2 hours ago
this is exactly what I needed
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