Katz Group Had the Following Income Statement for the Month

question 153

Multiple Choice

Katz Group had the following income statement for the month of May.
$\begin{array}{l}\text { Sales revenue } &&\$428,000\\\text { Cost of goods sold } &&205,440\\\text { Gross margin }&&222,560\\\text { Less: }\\&\text { Selling expenses }&81,320\\&\text { Administrative expenses }&72,760\\\text { Operating income }&&\$68,480\end{array}$
-Refer to the Figure.What was the selling expense percentage?

• A)17%
• B)19%
• C)16%
• D)21%

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Definitions:

Fordism

denotes a system of industrial production characterized by mass production and high wages, standardized products, and assembly-line methods, originating from Henry Ford's practices.

Total Quality Management

A comprehensive management approach focusing on continuous improvement in all aspects of a business, aiming to ensure high quality in products or services.

Job Control Unionism

A unionism approach focused on managing aspects of work such as hiring, promotions, layoffs, and work rules through collective bargaining.

Worker Control

A form of workplace governance in which employees have a direct say in the management and operational decisions of the organization.