The Quarterly Income Statement for Largent Is as Follows: Sales

question 84

Multiple Choice

The quarterly income statement for Largent is as follows: Sales $1,600
Less variable expenses:
Direct materials $280
Direct labour 300
Manufacturing overhead 60
Administrative expenses 30
Selling expenses 70 740
Contribution margin 860
Less fixed expenses:
Manufacturing overhead $180
Administrative expenses 440
Selling expenses 100 720
Income before taxes $ 140
What total amount represents the product costs?

• A)$640
• B)$820
• C)$580
• D)$900

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Definitions:

Securities Act of 1933

A U.S. law enacted to ensure greater transparency in financial statements so investors can make informed decisions.

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