Truform Retail Co., a merchandising company, reported the following results for the month of August: • Sales = $520,000 Total Variable Selling Expense = $24,000 • Cost of Goods Sold (COGS, all variable) = $215,000 • Total Fixed Selling Expense = $30,000 • Total Variable Administrative Expense = $18,000 Total Fixed Administrative Expense = $42,000 What is the gross margin for August? a. $305,000 b. $227,000 c. $284,000 d. $365,000

Truform Retail Co., a merchandising company, reported the following results for the month of August: • Sales = $520,000 Total Variable Selling Expense = $24,000 • Cost of Goods Sold (COGS, all variable) = $215,000 • Total Fixed Selling Expense = $30,000 • Total Variable Administrative Expense = $18,000 Total Fixed Administrative Expense = $42,000 What is the gross margin for August? a. $305,000 b. $227,000 c. $284,000 d. $365,000

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 8EA: Using the information in the previous exercises about Marleys Manufacturing, determine the operating...

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Ellerson Company provided the following information for the last calendar year: During the year, direct materials purchases amounted to 278,000, direct labor cost was 189,000, and overhead cost was 523,000. During the year, 100,000 units were completed. Refer to Exercise 2.21. Last calendar year, Ellerson recognized revenue of 1,312,000 and had selling and administrative expenses of 204,600. Required: 1. What is the cost of goods sold for last year? 2. Prepare an income statement for Ellerson for last year.
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Question
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
Gross margin for August? General accounting