Bennington Retail Company reported the following results for the quarter ending March 31: Sales: $875,000 Cost of goods sold (all variable): $368,500 Total variable selling expense: $43,750 Total fixed selling expense: $52,500 Total variable administrative expense: $26,250 Total fixed administrative expense: $78,750 The gross margin for the quarter is: a) $506,500 b) $462,750 c) $384,000 d) $305,250

Bennington Retail Company reported the following results for the quarter ending March 31: Sales: $875,000 Cost of goods sold (all variable): $368,500 Total variable selling expense: $43,750 Total fixed selling expense: $52,500 Total variable administrative expense: $26,250 Total fixed administrative expense: $78,750 The gross margin for the quarter is: a) $506,500 b) $462,750 c) $384,000 d) $305,250

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

See similar textbooks

Similar questions

What is the gross margin for September on these general accounting question?
The gross margin for July???
The gross margin for July?
The gross margin for October is?
ameson Company provided the following information for the coming year: make income statement Units produced and sold 230,000 Cost of goods sold per unit $5.30 Selling price $9.70 Variable selling and administrative expenses per unit $1.60 Fixed selling and administrative expenses $387,000 Tax rate 35%
The gross margin for July? General accounting
Oriole Manufacturing Ltd. had sales for January 2022 of $1,025,000. The units sold were 20,500, and the expenses for January 2022 were as follows: Variable Fixed Cost of goods sold $209,100 $123,000 Selling expenses 63,550 31,775 Administrative expenses 27,675 32,800 Prepare a detailed CVP income statement for the month ended January 31, 2022. (Round per unit cost to 2 decimal places, e.g. 15.25.)
Gross margin for August? General accounting
Bolka Corporation, a merchandising company, reported the following results for October: Sales $ 477,000 Cost of goods sold (all variable) $ 176,000 Total variable selling expense $ 19,900 Total fixed selling expense $ 24,000 Total variable administrative expense $ 10,400 Total fixed administrative expense $ 36,800 The gross margin for October is: $209,900 $301,000 $416,200 $270,700
GENERAL ACCOUNTING
?
Calculate Average Payables Periods For the first year, Hawkeye, Inc., has a cost goods sold of $95,318. At the end of the year, the accounts payable balance was $22,816. How long, on average, did it take the company to pay off its suppliers during the year? What might a large value for this ratio imply?