Chapter 9, Problem 9CC

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The following figures are reported on the income statement of Brighton Co.: • Revenue: $50,000 • Cost of goods sold: $20,000 • Operating expenses: $22,000 • Net income: $8,000 What is the gross margin percentage? a) 60.0% b) 44.0% c) 40.0% d) 16.0%

The petty cash administrator at Evergreen Business Solutions performed the weekly reconciliation. The fund was established at $950, with receipts showing staff refreshments $210, postage $145, and parking fees $265. When counting the remaining cash, only $275 was found. The manager asked to determine the discrepancy amount.

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What is the value of the office supplies that should appear on balance sheet?

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What is the unit product cost for the month under variable costing?

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