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Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pa

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Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pa

Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pays a sales commission of 15% of sales revenue to his sales staff. Stanley pays $1,400 a month rent for his store, and also pays $3,000 a month to his staff in addition to the commissions. Stanley sold 120 bicycles in June. If Stanley prepares a contribution margin income statement for the month of June, what would be his operating income?
A) $85,500
B) $100
C) $8,900
D) $90,000

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Managerial Accounting

Edition: 4^th

Author: Braun

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