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Use the data given below. Item Amount Sales $84,000 Variable costs: Cost of goods sold $42,500 Variable selling $5,100 Variable administrative $4,200 Fixed costs: Fixed selling $3,800 Fixed administrative $2,900 A. What is the gross margin? B. What is the net operating income? C. What is the contribution margin?

Use the data given below. Item Amount Sales $84,000 Variable costs: Cost of goods sold $42,500 Variable selling $5,100 Variable administrative $4,200 Fixed costs: Fixed selling $3,800 Fixed administrative $2,900 A. What is the gross margin? B. What is the net operating income? C. What is the contribution margin?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Use the data given below. Item Amount Sales $84,000 Variable costs: Cost of goods sold $42,500 Variable selling $5,100 Variable administrative $4,200 Fixed costs: Fixed selling $3,800 Fixed administrative $2,900 A. What is the gross margin? B. What is the net operating income? C. What is the contribution margin?
Transcribed Image Text:Use the data given below. Item Amount Sales $84,000 Variable costs: Cost of goods sold $42,500 Variable selling $5,100 Variable administrative $4,200 Fixed costs: Fixed selling $3,800 Fixed administrative $2,900 A. What is the gross margin? B. What is the net operating income? C. What is the contribution margin?
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