Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 3 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 Aug 2017 My Price 4.00

Bryant, Ltd

J Bryant, Ltd. is a local coat retailer. The store's accountant prepared the following income statement for the month ended January 31.Sales revenue$750,000Cost of goods sold300,000Gross margin450,000Less operating expensesSelling expense$23,560Administrative expense49,50073,060Net operating income$376,940Bryant sells its coats for $250 each. Selling expenses consist of fixed costs plus a commission of $6.50 per coat. Administrative expenses consist of fixed costs plus a variable component equal to 5% of sales.Required(a) Prepare a contribution format income statement for January.(b) Using the format , develop a cost formula for the total expenses.(c) If 2,700 coats are sold next month, what is the expected total contribution margin?

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 12:08 PM My Price 4.00

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