9. Muscat company, reported the following results for January: Number of units 10,000 Selling price Total Variable selling expense Total Variable administrative expense $10,000 Total fixed selling expense Total fixed administrative expense Merchandise Beginning $10 $7,000 $20,000 $8,000 $5,000 Merchandise Purchase $50,000 Merchandise Ending $10,000 Based on traditional income statement Muscat company's net profit will be? A. $10,000 B. $15,000 C. $55,000 D. $18,000
9. Muscat company, reported the following results for January: Number of units 10,000 Selling price Total Variable selling expense Total Variable administrative expense $10,000 Total fixed selling expense Total fixed administrative expense Merchandise Beginning $10 $7,000 $20,000 $8,000 $5,000 Merchandise Purchase $50,000 Merchandise Ending $10,000 Based on traditional income statement Muscat company's net profit will be? A. $10,000 B. $15,000 C. $55,000 D. $18,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Muscat company, reported the following results for January:
Number of units
10,000
Selling price
$10
Total Variable selling expense
$7,000
Total Variable administrative expense
$10,000
Total fixed selling expense
$20,000
Total fixed administrative expense
$8,000
Merchandise Beginning
$5,000
Merchandise Purchase
$50,000
Merchandise Ending
$10,000
Based on traditional income statement Muscat company’s net profit will be?

Transcribed Image Text:9. Muscat company, reported the following results for January:
Number of units
10,000
Selling price
Total Variable selling expense
Total Variable administrative expense $10,000
Total fixed selling expense
Total fixed administrative expense
$10
$7,000
S20,000
$8,000
Merchandise Beginning
$5,000
Merchandise Purchase
$50,000
Merchandise Ending
S10,000
Based on traditional income statement Muscat company's net
profit will be?
A. $10,000
B. $15,000
C. $55,000
D. $18,000
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