cost account Nikkel Corporation, a merchandising company, reported the followingresults for July:SalesCost of goods sold (all variable)Total variable selling expenseTotal fixed selling expenseTotal variable administrative expenseTotal fixed administrative expenseThe gross margin for July is$4,02,800$1,69,100$ 17,100$14,200$ 7,600$ 30,100

Step 1: Given Data:Sales: $402,800Cost of Goods Sold (COGS): $169,100Total Variable Selling Expense:…

Answered: Nikkel Corporation, a merchandising…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 6EA: Akira Company had the following transactions for the month. Calculate the gross margin for the...

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cost account
calculate requirement
wanted account answer
Wright & Boyle Inc. had the following income statement for the month of May: Sales revenue $470,800.00 Cost of goods sold 217,766.40 Gross margin $253,033.60 Less: Selling expenses 86,199.20 Administrative expenses 74,942.80 Operating income $91,891.60 What was the selling expense percent?
A company reported the following information for the month of July: Net sales $ 57,500 Cost of goods sold 33,200 Required: Calculate this company's gross margin ratio.
Erin international, a merchandising company, reported the following results for July. Cost of Goods Sold 285,141 Fixed selling and administrative expense 49,989 Sales Revenue 518,234 Variable selling and administrative expense 87,514 This question is independent of all other questions. Please use only the information in this question to calculate the answer. Based on the information provided above, calculate the gross margin for July. Cost of goods sold is a variable cost in this company. Enter only the amount of the gross margin in the box provided below. Enter the amount only. Do not enter letters, words, or the calculation.
Using the data below, compute lan's gross profit percentage for the month of January. Net Sales Cost of goods sold Operating expenses Other income Income tax expense $12,000 3,000 7,000 500 1,000 Round answer to the nearest whole percentage.
Calip Corporation, a merchandising company, reported the following results for October: Sales Cost of goods gold (all variable) Total variable selling expense Total fixed selling expense $490,000 $169,700 $24,200 $21,700 Total variable administrative expense $13,200 Total fixed administrative expense $33,600 The gross margin for October is: a) $320,300 b) $434,700 c) $282,900 d) $227,600
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 Sum
Bolka Corporation, a merchandising company, reported the following results for October: Sales Cost of goods sold (all variable) Total variable selling expense Total fixed selling expense Total variable administrative expense Total fixed administrative expense The contribution margin for October is: $ 411,000 $ 174,300 $ 26,200 $ 23,800 $ 15,700 $ 38,700
The Gross Margin for July is? Explain

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