the gross margin for july is Nikkel Corporation, a merchandising company, reported the followingresults for July:Sales$407,000Cost of goods sold (all variable)$173,400Total variable selling expense$20,400Total fixed selling expense$22,200Total variable administrative expense $14,800Total fixed administrative expense$39,700The gross margin for July is:a. $233,600b. $345,100c. $198,400d. $136,500

Step 1: Meaning of gross marginGross margin is the difference between a company's sales revenue and…

Answered: Nikkel Corporation, a merchandising…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...

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