A company purchases surf boards and resell them to customers. The following information is based on...

 

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A company purchases surf boards and resell them to customers. The following information is based on sales of 2,000 surfboards. The company had Sales of $324,000. Cost Variable Cost of goods sold Fixed Cost of goods sold Variable Selling Fixed Selling Variable Administrative Fixed Administrative Balance $77,000 52,000 50,000 44,000 29,000 70,000 b) Gross Profit on a traditional format income statement is $ c) Net Operating Income on a traditional income statement is $ A company purchases surf boards and resell them to customers. The following information is based on sales of 2,000 surfboards. The company had Sales of $324,000. Cost Variable Cost of goods sold Fixed Cost of goods sold Variable Selling Fixed Selling Variable Administrative Fixed Administrative Balance $77,000 52,000 50,000 44,000 29,000 70,000 b) Gross Profit on a traditional format income statement is $ c) Net Operating Income on a traditional income statement is $

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b To calculate Gross Profit subtract the total Variable Costs Vari... View the full answer