Compton Corporation is a wholesale distributor of educational CD-ROMs. The company's records indicate the following: This YearLast YearUnits Sold 250,000 200,000Sales$1,250,000 $1,000,000Cost of goods sold 875,000 700,000Gross margin 375,000 300,000Selling and administrative expenses 222,000 210,000Net operating income$153,000 $90,000 What is the company's contribution margin for this year?
A. $375,000
B. $213,000
C. $(667,500)
D. $315,000
Answer: D
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Comprehensive income does not affect net income or retained earnings
a. True b. False Indicate whether the statement is true or false
A corporation reports the following year-end balance sheet data. The company's debt ratio equals: Cash$41,000? Current liabilities$76,000? Accounts receivable 56,000? Long-term liabilities 31,000? Inventory 61,000? Common stock 101,000? Equipment 146,000? Retained earnings 96,000? Total assets$304,000? Total liabilities and equity$304,000?
A. 1.28 B. 0.54 C. 0.65 D. 0.35 E. 2.08
Who in an organization is NOT in a good position to recognize fraud during the theft act?
a. Other employees b. Managers c. Auditors d. Coworkers
Which of the following statements is not an objective of discriminant analysis?
A) examination of whether significant differences exist among the groups, in terms of the criterion variables B) determination of which predictor variables contribute to most of the intergroup differences C) classification of cases to one of the groups based on the values of the predictor variables D) evaluation of the accuracy of classification