Bolka Corporation, a merchandising company, reported the following results for October: Sales $ 413,000 Cost of goods sold (all variable) $ 169,100 Total variable selling expense $ 20,700 Total fixed selling expense $ 17,900 Total variable administrative expense $ 13,100 Total fixed administrative expense $ 30,400 The gross margin for October is:a. $210,100 b. $364,700 c. $161,800 d. $243,900

Question

Business

Nikolas Kirk

2 March, 23:44

Bolka Corporation, a merchandising company, reported the following results for October: Sales $ 413,000 Cost of goods sold (all variable) $ 169,100 Total variable selling expense $ 20,700 Total fixed selling expense $ 17,900 Total variable administrative expense $ 13,100 Total fixed administrative expense $ 30,400 The gross margin for October is:a. $210,100 b. $364,700 c. $161,800 d. $243,900

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Answers (1)

Know the Answer?

Deven Tyler · Answer 1

Option (d) is correct.

Explanation:

Given that,

Sales = $ 413,000

Cost of goods sold (all variable) = $ 169,100

Total variable selling expense = $ 20,700

Total fixed selling expense = $ 17,900

Total variable administrative expense = $ 13,100

Total fixed administrative expense = $ 30,400

Gross margin:

= Sales - Cost of goods sold

= $ 413,000 - $ 169,100

= $243,900