If Universal Sports Exchange sells 55,000 jerseys, what total expense will be reported on the income statement?
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If Universal Sports Exchange sells 55,000 jerseys, what total expense will be reported on the income statement?
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Sales Less: variable expenses Cost of goods sold Sales commissions Total variable expenses UNIVERSAL'S CONTRIBUTION FORMAT Income Statement 52 Weeks Ended February 1, 2014 Contribution margin Less: fixed expenses Selling Administrative Total fixed expenses Operating income $769,230 62,370 116,500 51,500 $1,039,500 $ 831,600 207,900 168,000 39,900 Per Unit $20.00 14.80 1.20 16.00 $ 4.00 Ratio 100% 74% 6% 80% 20% Sales Less: variable expenses Cost of goods sold Sales commissions Total variable expenses UNIVERSAL'S CONTRIBUTION FORMAT Income Statement 52 Weeks Ended February 1, 2014 Contribution margin Less: fixed expenses Selling Administrative Total fixed expenses Operating income $769,230 62,370 116,500 51,500 $1,039,500 $ 831,600 207,900 168,000 39,900 Per Unit $20.00 14.80 1.20 16.00 $ 4.00 Ratio 100% 74% 6% 80% 20%
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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