The Following Income Statement Is Provided for Ramirez Company for the Current

question 82

Multiple Choice

The following income statement is provided for Ramirez Company for the current year: $\begin{array}{|l|r|}\hline \text { Sales revenue }(2,500 \text { units } x \$ 40 \text { per unit }) & \$ \quad 100,000\\\hline \text { Cost of goods sold (varable; } 2,500 \text { units x } \$ 16 \text { per unit) } & (40,000) \\\hline \text { Cost of goods sold (fixed) } & (8,000) \\\hline \text { Gross margin } & 52,000 \\\hline \text { Administrative salaries } & (12,000) \\\hline \text { Depreciation } & (8,000) \\\hline\text { Supplies }(2,500 \text { units x } \$ 4 \text { per unit) } & (10,000) \\\hline \text { Net income } &\$ \quad 22,000\\\hline\end{array}$ What amount was the company's contribution margin?

• A) $50,000
• B) $22,000
• C) $52,000
• D) $60,000

Comprehend the structure and components of an account.

Familiarize with the concept and implications of Unearned Revenues and Dividends in accounting.

Discern the process for determining the balance of an account and the impact of transactions on account balances.

Understand the basic concepts of debits and credits in accounting transactions.

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Definitions:

Variable-interval Schedule

A reinforcement schedule in which the first response is rewarded after a variable amount of time has passed.

Token Economies

A behavioral modification system used in various settings where individuals earn tokens for exhibiting desired behaviors, which can later be exchanged for rewards.

Contingency Management

A behavioral therapy technique that rewards positive behavior and punishes negative behavior to encourage desired behavioral changes.

Extinction

In behavioral psychology, the process by which a conditioned response decreases in frequency and eventually disappears when the reinforcement is withheld.