Restate the following income statement for a retailer in contribution format. Sales revenue ($50 per unit) Less
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Restate the following income statement for a retailer in contribution format.
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Sales revenue ($50 per unit) Less cost of goods sold ($16 per unit) Gross margin Less operating costs: Commissions expense ($3 per unit) Salaries expense Advertising expense Shipping expense ($2 per unit) Operating income $65,000 20,800 44,200 $3,900 8,000 2,500 2,600 17,000 $27,200
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Per Unit Sales revenue 65000 50 Variable expenses Cost of goo...View the full answer
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