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:

Nonpolitical Employment

Positions within the government or public sector that are filled based on merit and qualifications rather than political affiliation, ensuring neutrality and efficiency in public service.

Spoils System

A system where a political party rewards its supporters with government positions after achieving electoral success as a thank you for their efforts in securing the win.

Political Capital

The influence, goodwill, or leverage that a politician or organization has, which can be used to achieve political objectives or push through legislative reforms.

Nepotism

The practice among those with power or influence of favoring relatives or friends, especially by giving them jobs.