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Calculate the total contribution margin

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Problem - Company XYZ is a merchandising business. The company is specialized in selling a specific brand of smartphones. The purchase cost per unit was OMR290. At the beginning of the month of May the company has inventory of 1,240 smartphones. During the month of May, the company purchased additional 1,000 smartphones. By the end of May, the company had 460 smartphones remaining in the store. The selling and general expenses for the company include wages and commissions, which include fixed monthly payment of OMR1,400 plus a OMR7 per unit sold; and depreciation of OMR2,000 per month. Assuming a selling price per unit of OMR580, calculate the total contribution margin.

Reference no: EM132911647

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