An Income Statement for Sam's Bookstore for the First Quarter

question 196

Multiple Choice

An income statement for Sam's Bookstore for the first quarter of the year is presented below:
On average, a book sells for $50. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed.
-The contribution margin for Sam's Bookstore for the first quarter is:

• A) $180,000
• B) $774,000
• C) $144,000
• D) $756,000

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Definitions:

Ultraviolet Light

A form of electromagnetic radiation with a wavelength shorter than that of visible light, but longer than X-rays, which can have effects such as causing sunburn or vitamin D synthesis in the skin.

Cultural Hazards

Risks that arise from human behavioral practices, beliefs, and conditions in a society, often impacting health and safety.

Life Span

The maximum duration of life that a living organism can reach under ideal conditions.

Poverty

The state of having insufficient financial resources or material possessions for a standard of living considered acceptable in a society.