Recent Posts • Latest Topics • Unanswered Questions

The University Store, Incorporated is the major bookseller for four nearby colleges. An income ...

lythong266

wrote...

Go to Answer

Posts: 155

Rep:

A year ago

The University Store, Incorporated is the major bookseller for four nearby colleges. An income ...

The University Store, Incorporated is the major bookseller for four nearby colleges. An income statement for the first quarter of the year is presented below:

University Store, Incorporated
Income Statement
For the Quarter Ended March 31
Sales		$ 800,000
Cost of goods sold		560,000
Gross margin		240,000
Selling and administrative expenses
Selling	$ 100,000
Administrative	110,000	210,000
Net operating income		$ 30,000

On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed.

If 25,000 books are sold during the second quarter and this activity is within the relevant range, the company's expected contribution margin would be:

▸ $875,000

▸ $300,000

▸ $175,000

▸ $65,000

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

Read 79 times

1 Reply

Report

Replies

Answer verified by a subject expert

doublekud

wrote...

Posts: 116

Rep:

A year ago

More solutions for this book are available here

Report

Related Topics

lythong266 Author

wrote...

A year ago

Thanks

zbmallo3

wrote...

Yesterday

Thanks

Brownr40

wrote...

2 hours ago

This helped my grade so much Perfect

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1327 People Browsing

124 Signed Up Today

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

224

254

4911

Your Opinion

Previous poll results: What's your favorite funny biology word?

It's sore throat season, why does my mucus have red spots?

Courses by Biology Forums

Bonobos, Chimpanzees, and the 98% DNA Link

Strange Ingredients Lurking in Doritos Chips

The Toxic Skin and Fungi Defense

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.