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
Marta_Voda [28]
3 years ago
10

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 $ 960,000 Cost of goods sold 670,000 Gross margin 290,000 Selling and administrative expenses Selling $ 108,000 Administration 120,000 228,000 Net operating income $ 62,000 On average, a book sells for $60. 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 cost formula for selling and administrative expenses with "X" equal to the number of books sold is:
Business
1 answer:
AysviL [449]3 years ago
3 0

Answer:

Answer: The net operating income used in contribution approach the first quarter is 171600

Explanation:

Description                        Amount                                     Amount

Sales                                                                             960000

Variable expenses:  

Cost of good sold                 670000  

Variable selling                       80000

(5 per book*16000 books)      

Variable administrative           38400

(960000*4%)            

Total variables expenses                                                 788400

contribution margin                                                           171600

working note:

unit sales=960000/60 per book=16000 book

You might be interested in
Give an example of one good or service produced in the United States using the command model. Justify your example using researc
Shtirlitz [24]

Answer:

An example of production under the command system in the United States is that of the production of roads and passable roads throughout the nation. In this case, it is the production of a public service, and as such it is controlled by the government in all stages of its production: from the identification of the need, through the tender, the construction authorization and the supervision of the results, everything is controlled by the government. This implies that individuals or private companies cannot by their own initiative create this type of road, but rather depend exclusively on the will of the government.

3 0
3 years ago
A resource management system in which decisions regarding resource access and use are vested in a community of identifiable memb
Georgia [21]

CBNRM refers to a sys- tem in which decisions regarding resource access and use are vested in a community of identifiable members.

<h3>What is CBNRM ?</h3>

Community-based natural resource management (CBNRM) is a people-centered approach to integrating natural resource conservation (water, soil, trees, and local biodiversity) and development to combat poverty, hunger, and disease.

CBNRM promotes conservation through the sustainable use of natural resources, provides opportunities for communities to generate income for rural development, and fosters democracy and good governance in local institutions.

Emerging CBNRM initiatives support the principles of participatory democracy and network and link building among various constituency groups, interdisciplinary groups, levels of government, and economic sectors.

To know more about CBNRM  follow the link:

brainly.com/question/24514288

#SPJ4

8 0
1 year ago
Until January 1, 2012, the price for ethanol consumers in the United States was higher than world free-market price by $0.54 per
Bad White [126]

Answer:

Specific tariff

Explanation:

Specific tariff - it is referred to as the charge that is imposed by the US government on any imported item. it is applied per unit items. it can be considered as the tax that the US government levied on import items. it is referred to as a trade barrier focus to reduce the amount of import from tie-up countries

Fir above context, $0.54 as import tax is applied by the US government on imports of ethanol.

8 0
3 years ago
Albert decided that it was time to invest his money. he was quite excited and told his friends about his new financial venture.
NemiM [27]
Financial venture. even his wife was supportive. albert liked a number of riskier company
8 0
3 years ago
Rune Co.’s checkbook balance on December 31 was $10,000. On that date, Rune held the following items in its safe: $4,000 check p
jarptica [38.1K]

Answer:

$13,000

Explanation:

<em>Rune Co.'s</em>

<em>As of December 31</em>

Balance as per Bank Statement $10,000

(+) Bank credits and collections $4,000

(-) Bank errors overstate book balance $1,000

Correct Cash Balance $13,000

6 0
3 years ago
Read 2 more answers
Other questions:
  • Is a GED the same as a high school diploma? Explain.
    14·2 answers
  • The U.S. dairy cow industry produced milk from just over – million cows in 1924. Today, it relies on just under – million. And y
    7·1 answer
  • If a test is administered to prospective applicants, what kind of validity is intended to be measured?
    7·1 answer
  • Luke and Mia are selling their home. They listed their house three months ago at an extremely high selling price, a price they r
    13·1 answer
  • An aging of a company's accounts receivable indicates the estimate of uncollectible receivables totals $4,937.
    13·1 answer
  • Chance is a traveling marketing representative for a publishing company. He is an independent contractor and was hired without n
    8·1 answer
  • Earnings Per Share, Price-Earnings Ratio, Dividend Yield The following information was taken from the financial statements of Mo
    10·1 answer
  • When preparing a statement of cash flows (indirect method), an increase in ending inventory over beginning inventory will result
    9·1 answer
  • Oscar has elected to have 23% of his federal income tax withheld as state income tax. If $154. 00 was withheld as federal income
    15·1 answer
  • In a planned economy, prices of commodities are controlled by _________.
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!