SGBFQA467 Corp. sells the softest gloves available on the market. The information below is compiled by the firm for the last month: Total sales revenue $300,000 Selling price per pair of gloves $1,000 (ID#20403) Variable selling expense per pair of gloves $124 Variable administrative expense per pair of gloves $37 Total fixed selling expense $79,000 Total fixed administrative expense $92,000 Beginning merchandise inventory $40,000 Ending merchandise inventory $20,000 Merchandise purchases $130,000 Q: What was SGBFQA467's contribution margin for each pair of gloves sold during the month? A: $1
SGBFQA467 Corp. sells the softest gloves available on the market. The information below is compiled by the firm for the last month: Total sales revenue $300,000 Selling price per pair of gloves $1,000 (ID#20403) Variable selling expense per pair of gloves $124 Variable administrative expense per pair of gloves $37 Total fixed selling expense $79,000 Total fixed administrative expense $92,000 Beginning merchandise inventory $40,000 Ending merchandise inventory $20,000 Merchandise purchases $130,000 Q: What was SGBFQA467's contribution margin for each pair of gloves sold during the month? A: $1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![SGBFQA467 Corp. sells the softest gloves available on the market. The information below is compiled by the firm for the last month:
Total sales revenue $300,000
Selling price per pair of gloves $1,000
(ID#20403)
Variable selling expense per pair of gloves $124
Variable administrative expense per pair of gloves $37
Total fixed selling expense $79,000
Total fixed administrative expense $92,000
Beginning merchandise inventory $40,000
Ending merchandise inventory $20,000
Merchandise purchases $130,000
Q: What was SGBFQA467's contribution margin for each pair of gloves sold during the month?
A: $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F93c69562-319c-4631-9769-6e36e7999d60%2Fd827924e-d296-48d5-ad56-413114a7c4d3%2Fww5jyxc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:SGBFQA467 Corp. sells the softest gloves available on the market. The information below is compiled by the firm for the last month:
Total sales revenue $300,000
Selling price per pair of gloves $1,000
(ID#20403)
Variable selling expense per pair of gloves $124
Variable administrative expense per pair of gloves $37
Total fixed selling expense $79,000
Total fixed administrative expense $92,000
Beginning merchandise inventory $40,000
Ending merchandise inventory $20,000
Merchandise purchases $130,000
Q: What was SGBFQA467's contribution margin for each pair of gloves sold during the month?
A: $
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