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
MissTica
3 years ago
15

An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement F

or Quarter Ended March 31 Sales $ 880,000 Cost of goods sold 550,000 Gross margin 330,000 Selling and administrative expenses Selling $ 117,000 Administration 138,000 255,000 Net operating income $ 75,000 On average, a book sells for $55. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed. The contribution margin for Sam's Bookstore for the first quarter is: Multiple Choice $665,200 $214,800 $250,000 $764,800
Business
1 answer:
nadezda [96]3 years ago
5 0

Answer:

Contribution= $214,800

Explanation:

<em>Contribution margin ratio is the proportion of sales revenue that is earned as contribution. </em>

Unit sold = revenue / selling price = 880,000/55 = 16,000  units

Contribution = Sales revenue - variable cost

Variable  admin = 4% × 880,000= 35200

Variable selling = 5× 16,000 = 80,000

Contribution = Sales revenue - cost of goods sold - admin - selling

= 880,000 - 550,000- 35200 - 80,000=214,800

Contribution= $214,800

You might be interested in
Offset overflow freeze set when offset storage within idrs is not large enough to hold all generated transactions, or credit bal
Nadusha1986 [10]
Hi, there is no question attached to the statement above. Anyway, it looks like you are looking for the IRS code with description. If so, the IRS code for the statement is 1541. Hope this helps you and thank you for the question. 
3 0
3 years ago
The employees at NeiFra Infosystems Inc., a website design company, have been struggling to provide quality services to clients.
tekilochka [14]

Answer:

C. Using software that helps with tracking progress.

Explanation:

As the employees at NeiFra Infosystems Inc. have been struggling to provide quality services to clients. An investigation reveals that employees feel dissatisfied and fatigued due to the challenging nature of their jobs. Ellen, the HR manager, suggests simplifying jobs in order to reduce errors and increase accuracy. Using software that helps with tracking progress can simplify the mental demands of employees' jobs. With the help of software, they can not only easily make the patterns but also can easily identify the main problems in a more effective and efficient way. Software can help NeiFra Infosystems Inc. in getting knowledge about the reasons of the employee's dissatisfaction in a more quick and fast way, which if they do it manually can take lot of time and unnecessary efforts.

8 0
3 years ago
Under the gold standard, gold flows reduce the money supply in one nation when another nation experiences a trade surplus. The n
goldfiish [28.3K]

Answer:

The lower prices create more demand for product from the nation with a reduction in the money supply, which leads to International Balance of Statement Differences

Explanation:

Gold standard is a monetary stem that links the value of paper money to gold.This system were used to balance income differences between countries. Countries with a balance of payments surplus would receive gold inflows, while countries in deficit would experience an outflow of gold

Here, Gold is the standard for International balance of payments differences.

Under the gold standard, gold flows reduce the money supply in one nation when another nation experiences a trade surplus.

The nation with a trade surplus has a swell in the money supply, which leads to price increases. At the same time, the nation with a reduction in the money supply will cause prices to fall.

The lower prices create more demand for product from the nation with a reduction in the money supply, which leads to International Balance of Statement Differences.

6 0
3 years ago
On May 1 Ralph offers to cure and smoke Sam’s pork, and promises to keep the offer open until June 1. On May 3 Ralph mails Sam a
garik1379 [7]

Explanation:

I would say may 6th because Sam didn't know Ralph was going to revoke until May 5th and that only makes it half final because Ralph wouldn't know in anyway except through a letter that Sam has received his letter and agreed or disagreed.

May 6th is when he gets the confirmation. So both people know on May 6th.

If this is too confusing ( like it was for me I had to read it 6 times ) then think about it this way. if you make a deal with a fisherman to buy fish on Wednesday and you send him a lettering sunday that arrives a day later, the fisherman won't know until a day later (Monday) and on that day he receives it you don't know if he got it. That's why it's half official. when he send a letter that arrives the day after he got your letter (tuesday) then you know that he understood you won't make it on Wednesday making it fully official.

does this make sense? if so hope it helps.

6 0
3 years ago
If the economy is falling below potential real​ GDP, which of the following would be an appropriate fiscal policy to bring the e
IceJOKER [234]

Answer:

Government spending

Explanation:

Expanded government spending is probably going to cause an ascent in aggregate demand (AD). This can prompt higher development momentarily. It can likewise increase the overall GDP. Higher government spending will likewise affect the supply side of the economy. Likewise, increase in government spending centres to apply fiscal policy is a way which could improve the economic situation of the country, it can also improve efficiency and a development over the long-run.

6 0
3 years ago
Other questions:
  • Small-business owner Marcos set up his Google Ads campaign by thinking of “obvious” keywords off of the top of his head. What's
    6·1 answer
  • Bob enters into a contract with jim and jen to build their new custom dream home in florida, and they agree on a price. before c
    12·1 answer
  • Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of
    14·1 answer
  • A stock had annual returns of 16 percent, 8 percent, -17 percent, and 21 percent for the past four years. Based on this informat
    11·1 answer
  • Suppose that when the price per ream of recycled printer paper rises from​ $4 to​ $4.50, the quantity demanded falls from 800 to
    5·1 answer
  • You are considering to buy a $250,000 property with a 80% LTV ratio and have two mortgage choices: a FRM or a FRM with an IO per
    5·1 answer
  • The ____ server is usually a high-powered workstation that maintains a large file system of data sets, user profiles, and access
    11·1 answer
  • A loan is amortized over five years with monthly payments at an annual nominal interest rate of 9% compounded monthly. The first
    14·1 answer
  • A system that collects and stores the company's key data and produces the information needed by managers for analysis, control,
    8·1 answer
  • Suppose you get $500 for your birthday. you spend $400 and save the remaining $100. hence, the marginal propensity to save or mp
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!