
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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General accounting question

Transcribed Image Text:Bennington Retail Company reported the following results for the quarter ending March
31:
Sales: $875,000 Cost of goods sold (all variable): $368,500 Total variable selling expense:
$43,750 Total fixed selling expense: $52,500 Total variable administrative expense:
$26,250 Total fixed administrative expense: $78,750
The gross margin for the quarter is:
a) $506,500
b) $462,750
c) $384,000
d) $305,250
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