Canton Corporation, a merchandising company, reported the following results for September: Description Amount Sales $470,000 Cost of goods sold (all variable) $142,800 Total variable selling expense $23,100 Total fixed selling expense $24,500 Total variable administrative expense $18,400 Total fixed administrative expense $37,200 The gross margin for September is: a) $326,200 b) $447,500 c) $327,200 d) $340,300

Canton Corporation, a merchandising company, reported the following results for September: Description Amount Sales $470,000 Cost of goods sold (all variable) $142,800 Total variable selling expense $23,100 Total fixed selling expense $24,500 Total variable administrative expense $18,400 Total fixed administrative expense $37,200 The gross margin for September is: a) $326,200 b) $447,500 c) $327,200 d) $340,300

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...

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