Nimtrans,Inc Calculate the Gross Profit for August Using Absorption Costing

question 117

Multiple Choice

Nimtrans,Inc.reports the following information for August: $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 900,000 \\\hline \text { Variable Cost of Goods Sold } & 200,000 \\\hline \text { Fixed Cost of Goods Sold } & 45,000 \\\hline \text { Variable Selling and Administrative Costs } & 160,000 \\\hline \text { Fixed Selling and Administrative Costs } & 55,000 \\\hline\end{array}$$ Calculate the gross profit for August using absorption costing.

• A)$845,000
• B)$740,000
• C)$700,000
• D)$655,000

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Definitions:

Sales Conference

An event where professionals meet to discuss strategies, share knowledge, and network to improve sales performance.

Projected Cost Savings

An estimate of the reduction in costs expected to be achieved in future periods through specific actions or initiatives.

Informal Report

A less structured report, often shorter and used for internal purposes, to communicate within an organization without strict adherence to formalities.

Survey Results

The data or outcomes gathered from the administration of a questionnaire to a sample of respondents.