1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zysi [14]
3 years ago
12

The University Store, Inc. is the major bookseller for four nearby colleges. An income statement for the first quarter of the ye

ar is presented below: University Store, Inc. 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. The net operating income computed using the contribution approach for the first quarter is:
Business
1 answer:
Effectus [21]3 years ago
3 0

Answer: $30,000

Explanation:

Sales are $800,000 and the average price is $40. Number of units sold is;

= 800,000/40

= 20,000 units

Sales                $ 800,000  

<em>Less</em>: Cost of Goods Sold                 ($560,000)  

Gross Margin                  <u>$240,000</u>  

Less : Variable Costing  

Selling Expenses (20,000 units X $3.00)                  ($60,000)

Administrative Expenses (5% of $ 800,000)               ($40,000)  

Contribution Margin               <u> $140,000</u>  

Less: Fixed Cost  

Selling Expenses ($100,000 - $60,000)                    ($40,000)  

Administrative Expenses ($110,000 -$40,000)                     ($70,000)  

Net Operating Income                  <u> $30,000</u>  

You might be interested in
A student has 4 mangos, 2 papayas, and 3 kiwi fruits. if the student eats one piece of fruit each day, and only the type of frui
Tom [10]

There are 210 ways that he can consume fruits. This can determined using the concept of factorial in mathematics.

Factorial, in mathematics, the product of all positive int or numbers less than or equal to a given positive int or number and denoted by that integer and an interjection point. therefore, factorial seven is written seven!, meaning one × 2 × 3 × 4 × 5 × six × seven.

Factorial zero is defined as equal to one.

Here, we have given the student has three mangoes, two papayas and two kiwi fruits.

so in total he has (3 plus 2 plus 2) =7 fruits.

Let all the fruits be eaten. If he eats one fruit each day then it will take seven days to complete this process.

So according to one popular permutation type where , n=7, n1(mangoes)=3,  n2(papayas)=2,  n3(kiwi)=2.

Using factorial, number of ways =7!/(3!2!2!) =210

Learn more about factorial here:

brainly.com/question/25997932

#SPJ4

4 0
1 year ago
This introduces an applicant and the applicants resume to a potential employer
MrRa [10]

Answer

B. Cover Letter

Explanation

It is a single-page introductory document prepared for the recruiting agent which gives a glimpse of the potential candidate to the recruiter. It gives an highlight of the candidate’s overall strengths and the potentials that present him/her to the position as a great fit for the company. The cover letter typically helps the candidate to stand out from the rest of the recruits and aims at engaging the employer before going through the resume of the candidate.

3 0
3 years ago
Mandy wants to mention detailed information about her hobbies, personal qualities, strengths, and professional achievements in a
dalvyx [7]

Answer:

Career portfolio I think

Explanation:

Tell me if I am wrong please.

6 0
3 years ago
A company buys a color printer that will cost $1,500 to buy, and last 5 years. It is assumed that it will require servicing cost
vovikov84 [41]

Answer:

The answer is "- $ 575.68".

Explanation:

please find the attached file.

3 0
2 years ago
Suppose that for each one-percentage-point increase in the interest rate, the level of investment spending declines by $1 billio
elixir [45]

Answer:

We expect investment spending to increase by $ 1 billion

Explanation:

If investment decreases by $ 1 billion if a 1 % change is made then that is sensitivity of investment to change in interest rate. Thus if there is a 1 % reduction in interest rate we expect to see a $ 1 billion increase in spending if this holds true.

5 0
3 years ago
Other questions:
  • A discount on bonds should be reported in the balance sheet:________.
    13·1 answer
  • Assess the benefits and drawbacks of the high-speed rail project. In your opinion, do benefits outweigh drawbacks, or vice versa
    7·1 answer
  • Of the five essential domains, __ includes snacks, outdoor time, physical exercise, clean water, and nap
    11·1 answer
  • Organizational and managerial skills that find their expression in a company's structure, routines, and culture are referred to
    12·2 answers
  • The best defensive driving strategy in planning ahead for an evasive action on the road includes:
    15·1 answer
  • The san francisco giants sell tickets based on​ ____________, where the prices often change based on demand and other variables.
    5·1 answer
  • The level of investment in markets often indicates the stability of the government. the state of the economy. the success of ind
    10·2 answers
  • Macee Department Store has three departments, and it conducts advertising campaigns that benefit all departments. Advertising co
    8·1 answer
  • Explain how insurance companies use risk pooling to generate a profit for their
    10·1 answer
  • A ____________________ is a strategy of increasing market share for present products in existing markets.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!