The Following Information Pertains to the January Operating Budget for Murphy

question 151

Multiple Choice

The following information pertains to the January operating budget for Murphy Corporation, a retailer:
Budgeted sales are $208,000 for January
Collections of sales are 60% in the month of sale and 40% the next month
Cost of goods sold averages 64% of sales
Merchandise purchases total $154,000 in January
Marketing costs are $3,600 each month
Distribution costs are $5,000 each month
Administrative costs are $10,500 each month
For January, budgeted gross margin is ________.

• A) $124,800
• B) $133,120
• C) $74,880
• D) $54,000

---

Definitions:

Costs Of The Study

The estimated financial expenditures associated with conducting a research project, including personnel, equipment, and materials.

Relevance

The degree to which something is related or useful to the matter at hand.

Unnamed Blogs

Unnamed blogs are online platforms where individuals post content anonymously or without disclosing their identity, often to share personal insights or controversial perspectives.

Scholarly Journals

Peer-reviewed publications that feature articles, research, and studies by experts in a specific field.