The income statement for the RUN-28769 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-28769 Income Statement Sales $213,200 80,600 Cost of goods sold Gross margin Selling and administrative expenses Selling 132,600 $70,400 34,792 105,192 Administration Net operating income $ 27,408 On average, an athletic shoe sells for $82. Variable selling expenses are $19 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 6% of sales with the remainder being fixed. How much is the total contribution margin for RUN-28769 for the first quarter?

The income statement for the RUN-28769 company, an atletic shoe retailer, for the first quarter of the year is presented below: RUN-28769 Income Statement Sales $213,200 80,600 Cost of goods sold Gross margin Selling and administrative expenses Selling 132,600 $70,400 34,792 105,192 Administration Net operating income $ 27,408 On average, an athletic shoe sells for $82. Variable selling expenses are $19 per athletic shoe, and the remaining selling expenses are fixed. The variable administrative expenses are 6% of sales with the remainder being fixed. How much is the total contribution margin for RUN-28769 for the first quarter?

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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