What amount should have been reported as variable costs, Accounting Basics

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What amount should have been reported as variable costs

During its most recent fiscal year, Simon Enterprises sold 310,000 electric screwdrivers at a price of $18.30 each. Fixed costs amounted to $961,000 and pretax income was $1,271,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year in question?

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Accounting Basics: What amount should have been reported as variable costs

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Accounting Basics: What amount should have been reported as variable costs

Reference No:- TGS0688366

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : How much direct materials cost was incurred in producing

Q : The present value of the cash outflows

Q : Determine the total june sales are anticipated to be

Q : Allocated fixed costs are assigned based on relative sales

Q : What amount should have been reported as variable costs

Q : What markup percentage is the company using

Q : Sm press company is relevant to this decision

Q : How much did voorhees pay in cash dividends

Q : How to drop the sporting goods department

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount should have been reported as variable costs

Reference No:- TGS0688366

Recent Questions Asked Accounting Basics

Q : How much direct materials cost was incurred in producing

Q : The present value of the cash outflows

Q : Determine the total june sales are anticipated to be

Q : Allocated fixed costs are assigned based on relative sales

Q : What amount should have been reported as variable costs

Q : What markup percentage is the company using

Q : Sm press company is relevant to this decision

Q : How much did voorhees pay in cash dividends

Q : How to drop the sporting goods department

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