49. The following
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:49. The following is a Pro Forma Income Statement for Home Office Systems. Using the Pro
Forma answer, the questions below. Question: What should be the label for the line currently
called "Blank A"? Sales $20,000,000 Cost of Goods Sold $10,000,000 Blank A $10,000,000
Marketing Expenses: Sales Expenses $6,000,000 Advertising Expenses $1,400, 000 Freight
Expenses $1,600,000 General and Administrate Expenses: XXXXXXXXX $300,000
Manufacturing Overhead $600, 000 Staff Salaries and Benefits $250,000 Blank B ($150,000)
Group of answer choices Contribution Margin Administrative Overhead Gross Margin
Revenues Net profit before (Income) tax
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