Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pays a sales commission of 15% of sales revenue to his sales staff. Stanley pays $1900 a month rent for his store, and also pays $5000 a month to his staff in addition to the commissions. Stanley sold 110 bicycles in June. If Stanley prepares a contribution margin income statement for the month of June, what would be his contribution margin?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pays a sales commission of 15% of sales ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Just two questions. 1 Which of these statements is one of the principles of a free-market system? A) The gross domestic product must be as large as possible. B) The government must prevent consumers from being coerced.
Answers (1)
Career opportunities are based on which social influence: multiple choice interest rates. inflation. foreign competition. demographic trends. consumer demand.
Answers (1)
Why do all shareholders agree on the same goal for the financial manager? (Select all the choices that apply.) A.
Answers (1)
1. Interest rates on a 4-year Treasury security are currently 7%, while 6-year Treasury securities yield 7.5%. If the pure expectations theory is correct, what does the market believe that 2-year securities will be yielding 4 years from now?
Answers (1)
In the 20ties The unemployment rate among African Americans was a. nearly double the national rate. c. about the same as the national rate. b. slightly higher than the national rate. d. slightly lower than the
Answers (1)
New Questions in Business
On January 2, year 2, Air, Inc. agreed to pay its former president $300,000 under a deferred compensation arrangement. Air should have recorded this expense in year 1 but did not do so.
Answers (1)
A home improvement firm has quoted a price of? $9,800 to fix up? eric's backyard. five years? ago, eric put? $7,500 into a home improvement account that has earned an average of? 5.25% per year.
Answers (1)
A budget surplus a. exists when government spending is greater than tax revenues. b. causes government debt to increase. c. occurs when the government has debt equal to zero. d. reduces the government's debt.
Answers (1)
Monique was looking for a venue for her wedding reception. When she visited one potential location, she noticed that the landscaping was not complete, and there was stained carpet in the lobby.
Answers (1)
A monthly fixed rate mortgage payment--- A. could change. B. never changes. C. increases annually. D. decreases annually.
Answers (1)