Nikkei Corporation, a merchandising company, reported the following results for July. Sales Cost of goods sold $ 4,94,000 $ 1,75,600 Total variable selling expense $ 23,500 Total fixed selling expense $23,000 Total variable administrative expense $ 10,000 Total fixed administrative expense $ 34,800 The gross margin for July is: A. $284,900 B. $227,100 C. $436,200 D. $318,400

Principles of Accounting Volume 2
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Author:OpenStax
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Chapter4: Job Order Costing
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Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...
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Nikkei Corporation, a merchandising company, reported the following
results for July.
Sales
Cost of goods sold
$ 4,94,000
$ 1,75,600
Total variable selling expense
$ 23,500
Total fixed selling expense
$23,000
Total variable administrative expense
$ 10,000
Total fixed administrative expense
$ 34,800
The gross margin for July is:
A. $284,900
B. $227,100
C. $436,200
D. $318,400
Transcribed Image Text:Nikkei Corporation, a merchandising company, reported the following results for July. Sales Cost of goods sold $ 4,94,000 $ 1,75,600 Total variable selling expense $ 23,500 Total fixed selling expense $23,000 Total variable administrative expense $ 10,000 Total fixed administrative expense $ 34,800 The gross margin for July is: A. $284,900 B. $227,100 C. $436,200 D. $318,400
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