For February, sales revenue is $900,000; sales commissions are 5% of sales; the sales manager's salary is $96,000; advertising expenses are $80,000; shipping expenses total 2% of sales; and miscellaneous selling expenses are $2,100 plus 1/2 of 1% of sales. Total selling expenses for the month of February are a.$227,600. b.$241,100. c.$245,600. d.$243,500.

Ron Company has the following commission schedule:     Commission rate   Sales   2 %   Up to $80,000     3.5 %   Excess of $80,000 to $100,000     4 %   More than $100,000     Calculate the gross earning. Employee Total Sales Gross Earnings Lauren Cleaves $ 143,000

Georgetown Company's weekly store operating costs for a 10-week period totaled $320,000 for the high, and $260,000 for the low. Sales volumes for those two weeks were $4,000,000 and $3,200,000, respectively. The estimated variable cost per dollar of sales using the high-low method is:     A. $0.05 per sales dollar.         B. $0.08125 per sales dollar.       C. $0.075 per sales dollar.     D. $0.1067 per sales dollar.

The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash Accounts receivable Inventory Building and equipment, net Accounts payable Common stock Retained earnings a. The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) April May $ 7,600 $ 20,400 $ 40,200 $128,400 $ 23,925 $ 150,000 $ 22,675 $51,000 $ 67,000 $ 72,000 June July $ 97,000 $ 48,000 c. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following sale. The accounts receivable at March 31 are a result of March credit sales. d. Each month's ending inventory should equal 80% of the following month's budgeted cost of goods sold. e. One-half of a month's inventory purchases is paid for in the month of purchase; the other half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of Inventory. £ Monthly expenses are as follows:…

Revenue is $125,000. Cost of goods sold are $75,000. Calculate gross margin. O 20% O 40% 60% 80%

For February, sales revenue is $568,000, sales commissions are 6% of sales, the sales manager's salary is $89,600, advertising expenses are $88,500, shipping expenses total 3% of sale, and miscellaneous selling expenses are $2,400 plus 1/2 of 1% of sales. Total selling expenses for the month of February are

For February, sales revenue is $613,000, sales commissions are 4% of sales, the sales manager's salary is $ 83,600, advertising expenses are $92, 900, shipping expenses total 4% of sale, and miscellaneous selling expenses are $2,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are a. $ 230, 605 b. $227, 540 c. $178, 500 d. $203, 020

Marwick’s Pianos, Inc., purchases pianos from a large manufacturer for an average cost of $1,499 per unit and then sells them to retail customers for an average price of $2,600 each. The company’s selling and administrative costs for a typical month are presented below:   Costs Cost Formula Selling:     Advertising $ 961 per month Sales salaries and commissions $ 4,799 per month, plus 4% of sales Delivery of pianos to customers $ 60 per piano sold Utilities $ 647 per month Depreciation of sales facilities $ 4,956 per month Administrative:     Executive salaries $ 13,422 per month Insurance $ 702 per month Clerical $ 2,456 per month, plus $37 per piano sold Depreciation of office equipment $ 879 per month     During August, Marwick’s Pianos, Inc., sold and delivered 56 pianos.   Required: 1. Prepare a traditional format income statement for August.

An income statement for Sam's Bookstore for the first quarter of the year is presented below:   Sam's Bookstore Income Statement For Quarter Ended March 31 Sales     $ 840,000 Cost of goods sold       545,000 Gross margin       295,000 Selling and administrative expenses         Selling $ 116,000     Administration   136,000   252,000 Net operating income     $ 43,000     On average, a book sells for $60. Variable selling expenses are $4 per book with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales with the remainder being fixed.   The contribution margin for Sam's Bookstore for the first quarter is: Multiple Choice $239,000 $758,800 $213,800 $626,200

Dick's Draperies has gross sales $15,000 per month, half of which are on credit (paid with 30 days). Monthly expenses are as follows: wages, $3,000; utilities and rent, $2,000; advertising, $300; and miscellaneous, $500, inventory is purchased every three months and totals $30,000 for each order. Yearly expenses paid for in advance are insurance of $1,000 and a rent deposit of $700. Prepare a six-month cash flow statement for Dick's Draperies. What advice would you give this business based on the cash flow statement?