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3 years ago

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

Business

1 answer:

Paladinen [302]3 years ago

5 0

Answer:

The contribution margin for Sam's Bookstore for the first quarter is $163,000.

Explanation:

The contribution margin is the sales minus total variable cost. This can be calculated as follows:

Units of books sold = Sales / Selling price per book = $900,000 / $60 = 15,000

Variable selling expenses = Units of books sold * Variable selling expenses per book = 15,000 * $5 = $75,000

Variable administrative expenses = Sales * 3% = $900,000 * 3% = $27,000

Total variable cost = Cost of goods sold + Variable selling expenses + Variable administrative expenses = $635,000 + $75,000 + $27,000 = $737,000

Contribution margin = Sales - Total variable cost = $900,000 - $737,000 = $163,000

Therefore, the contribution margin for Sam's Bookstore for the first quarter is $163,000.

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<u>Solution and Explanation:</u>

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3 years ago

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1 year ago

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Vladimir79 [104]

Answer:

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Explanation:

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3 years ago

A corporation reports the following year-end balance sheet data. The company's acid-test ratio equals:

Margaret [11]

Answer: 1.27

Explanation:

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