Department B Had Net Sales of $70,000,gross Profit on Sales

question 76

Multiple Choice

Department B had net sales of $70,000,gross profit on sales of $35,000,total direct expenses of $9,000,and total indirect expenses of $6,000.Department B's contribution margin is

• A) $20,000.
• B) $29,000.
• C) $26,000.
• D) $35,000.

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Definitions:

Closing Accounts

The process of finalizing all ledger accounts to prepare financial statements at the end of an accounting period.