Lumen Group reported the following in June: Sales Revenue: $120,000 Variable COGS: $28,000 Fixed COGS: $16,000 Variable S&A Expenses: $12,500 Fixed S&A Expenses: $4,000 Calculate Gross Profit and Operating Income.

Lumen Group reported the following in June: Sales Revenue: $120,000 Variable COGS: $28,000 Fixed COGS: $16,000 Variable S&A Expenses: $12,500 Fixed S&A Expenses: $4,000 Calculate Gross Profit and Operating Income.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of...

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Can you explain this general accounting question using accurate calculation methods?

Lumen Group reported the following in June:
Sales Revenue: $120,000
Variable COGS: $28,000
Fixed COGS: $16,000
Variable S&A Expenses: $12,500
Fixed S&A Expenses: $4,000
Calculate Gross Profit and Operating Income.

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