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:

User Cost

The cost of using a durable good or capital, considering factors like depreciation and the opportunity cost of not investing the funds elsewhere.

Extraction Cost

The expenses associated with removing natural resources from the earth or sea, including labor, equipment, and regulatory compliance costs.

Property Rights

The legal rights to use, control, and benefit from resources, assets, or property.

Conservation

The sustainable management and use of natural resources to prevent depletion and harm to the environment.