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Dominik [7]
3 years ago
13

International Imports is a merchandising Firm. Last year they reported sales of $674,500 and cost of goods sold of $404,700. The

company's total variable selling and administrative expense was $60,705, and fixed selling and administrative expense was $53,960. The total contribution margin for the firm is:_______. a. $60,705. b. $114,665. c. $404,700. d. $465,405.
Business
1 answer:
dimaraw [331]3 years ago
7 0

Answer:

The total contribution margin for the firm is: $209,095

Explanation:

The contribution margin is calculated by using following formula:

Contribution margin = Total sales – Total variable costs

In International Imports,

Total sales = $674,500

Total variable costs  = cost of goods sold + total variable selling and administrative expense = $404,700 + $60,705 = $465,405

Contribution margin = $674,500  - $465,405 = $209,095

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5 0
3 years ago
Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods so
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Explanation:

On the books of Shore Co

Cash A/c Dr $111,560

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On the books of Blue star

Accounts payable A/c Dr $113,800    ($112,000 + $1,800)

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8 0
3 years ago
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Answer:

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Credit : Cost $ 51,000

Part b

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Debit : Cash $15,100

Debit : Accumulated depreciation $35,900

Credit : Cost $ 51,000

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Debit : Cash $15,100

Debit : Accumulated depreciation $35,900

Credit : Cost $ 51,000

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Explanation:

the journal entry for the disposal of the truck  are shown

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Answer:

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3 years ago
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Answer:  B

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