Question: The following results have been reported by Compton Company for May 2017: Sales $ 480,000 Cost of goods sold 216,000 Gross margin 264,000 Selling and administrative expenses: Selling 80,000 Administrative 120,000 200,000 Net operating income $ 64,000 Other information: Average selling price per unit: $600 Selling expenses comprised of: fixed selling expenses plus 15% of sales Administrative expenses comprised of: fixed administrative expenses plus $35.00 per unit Using the contribution approach, Compton's contribution margin for the month of May is _______. You must enter your answer in the following format: $x,xxx
The expenses listed below were incurred by Cliffman Corporation during May 2017. Manufacturing supplies $8,000 Administrative salaries $125,000 Direct materials $320,000 Sales staff salaries $95,000 Factory depreciation $17,000 Corporate headquarters building rent $80,000 Indirect labor $55,000 Marketing $60,000 Direct labor $105,000 Total period costs for May equal ______