Find the contribution margin for sam bookstore

Assignment Help Cost Accounting
Reference no: EM132596303

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

Sam's Bookstore

Income Statement For Quarter Ended March 31

Sales $990,000Cost of goods sold 675,000

Gross margin 315,000

Selling and administrative expenses Selling$109,000

Administration 122,000

                       231,000

Net operating income $84,000

On average, a book sells for $60. Variable selling expenses are $6 per book with the remaining selling expenses being fixed. The variable administrative expenses are 5% of sales with the remainder being fixed.

Question 1: The contribution margin for Sam's Bookstore for the first quarter is

Reference no: EM132596303

Questions Cloud

Determining the Cost of Plant Assets and Depreciation : Determining the Cost of Plant Assets and Depreciation - Compute the total cost added to the college's Computing Equipment account
What the opportunity cost was : In making the decision to invest in the model 220 machine, the opportunity cost was?Management of Plascencia Corporation is considering whether to purchase
How prepare traditional format income statement for april : How Prepare traditional format income statement for April. In April, Holderness Inc, a merchandising company, had sales of $306,000, selling expenses of $22,500
Regression analysis involves lurking variables-outliers : Regression analysis involves lurking variables, outliers, scatterplots, linear correlation coefficient, and regression equation.
Find the contribution margin for sam bookstore : Find The contribution margin for Sam's Bookstore for the first quarter is. Selling and administrative expenses Selling$109,000.Gross margin 315,000
Relationship between employee planning and development : What is the nature of human resource managerial work? Describe the relationship between employee planning and development.
Why prestland wrote down the current carrying value : Question - The Write-Down of Impaired Assets, Explain why Prestland wrote down the current carrying value of its unprofitable stores
Find the total amount of manufacturing overhead cost is : If 6,800 units are produced, the total amount of manufacturing overhead cost is closest to?Perteet Corporation's relevant range of activity is 6,300 units
Important aspects of marketing for health organization : What are the most important aspects of marketing for a health organization?

Reviews

Write a Review

Cost Accounting Questions & Answers

  What the production overhead absorbed during the period was

What The production overhead absorbed during the period was? What Production overhead was? Fixed overheads are absorbed on the basis of output

  Prepare journal entries to record the march transactions

Prepare journal entries to record the March transactions in the General Journal below. Remember that Debits must equal Credits.

  Numerous scholars have set some standards to judge a system

numerous scholars have set some standards to judge a system for taxation for its validity. explain how can you decide

  What general journal entry

Stock at 30 June 2012 was valued at cost $5200 and the net realization value $5300. With selling costs $200. What general journal entry?

  Practice set is on job order cost managerial accounting

This practice set is on Job Order Cost managerial accounting and this practice set provides the narrative form approach.

  Prepare the trading and profit and loss account

Prepare the Trading and Profit and Loss Account for the year ended on Mar 31, 2009 and a Balance Sheet as on that date.

  What forces caused cost and management accounting systems

What forces have caused cost and management accounting systems designed decades ago to become less relevant and less valuable for organizational

  Prepare a schedule of lease receipts for cherry ltd

Prepare a schedule of lease receipts for Cherry Ltd and the journal entries for the year ended 30 June 2011 and prepare a schedule of lease payments for Hazel Ltd and the journal entries for the year ended 30 June 2011.

  State five limitations of break-even analysis

State five limitations of break-even analysis. Suppose the company desires to make a profit of shs.195,000, what should be the output in units?

  How to determine the predetermined overhead rate

Indah Architectures uses job order costing to trace the costs for each project of developing.How to Determine the predetermined overhead rate?

  You have been given the following information for ethan

you have been given the following information for ethan company as of june 1 2010. ethan company purchased a parcel of

  Make each adjusting entry in general journal format

Make each adjusting entry in general journal format in the space provided. Explanations are not necessary.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd