EBK FINANCIAL ACCOUNTING: AN INTRODUCTI
14th Edition
ISBN: 8220100453953
Author: Francis
Publisher: YUZU
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The following data were taken from the accounts of Burnside
Bedknobs, a retail business. Determine the gross profit.
Sales
Sales returns and allowances
Sales discounts
$ 1,16,900
1,100
400
Merchandise inventory, January 1
30,000
Purchases during the period
1,00,000
Purchases returns and allowances during the period
2,000
Purchases discounts taken during the period
2,800
Freight-in on merchandise purchased during the period
1,500
Merchandise inventory, December 31
50,000
Marcus Company makes a single product. The company has monthly fixed costs totaling $200,000 and variable costs of $23 per unit. Each unit of product is sold for $39. Brevard expects to sell 24,000 units each month. What would be the operating profit if the total fixed costs decrease by 22%?
Net opreting income should increase?
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