Kendrick Enterprises, a merchandising company, reported the following results for September: Category Amount ($) Sales $520,000 Cost of goods sold (all variable) $216,000 Total variable selling expense Total fixed selling expense $24,000 $28,000 Total variable administrative expense $16,500 Total fixed administrative expense $45,000 The gross margin for September is: a) $206,000 b) $350,500 c) $304,000 d) $132,500

Kendrick Enterprises, a merchandising company, reported the following results for September: Category Amount ($) Sales $520,000 Cost of goods sold (all variable) $216,000 Total variable selling expense Total fixed selling expense $24,000 $28,000 Total variable administrative expense $16,500 Total fixed administrative expense $45,000 The gross margin for September is: a) $206,000 b) $350,500 c) $304,000 d) $132,500

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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