Gross profit is calculated by deducting from sales revenue. Jupiter Inc. reports
ID: 2451728 • Letter: G
Question
Gross profit is calculated by deducting from sales revenue. Jupiter Inc. reports the following information for August; Calculate the contribution margin for the month of August. Dentofax Inc. reports the following information for August; Calculate the operating income for August using absorption costing. In its first year of business, Greenlam Inc. produced 600 units and sold 400 units. If Greenlam uses variable costing When there is no beginning inventory and all the goods that are produced are sold, the operating If income For which of the following decisions is absorption costing most appropriate?Explanation / Answer
14) A- Cost of goods sold
since Gross profit = sales -cost of goods sold.
15) D - $600,000
since contribution margin= sale- variable cost
16) D -$275,000
17) C-
Important points to remember:
18) C
19) C
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