The following data relate to a company that produces and sells a travel guide that is updated monthly: Fixed costs: Copy editing $6,000 2,000 72,000 Art work Typesetting Variable costs: Printing and binding $3.20 per copy Bookstore discounts 4.00 per copy Salespersons' 0.50 per copy commissions Author's royalties 2.00 per copy Each book sells for $20.00. The company sold 8,000 books in June and 10,000 books in July. The contribution margin ratio for the book is: (round your final answer to the nearest tenth of a percent.) O 71.5% 52.0% 51.5% O 54%

The following data relate to a company that produces and sells a travel guide that is updated monthly: Fixed costs: Copy editing $6,000 2,000 72,000 Art work Typesetting Variable costs: Printing and binding $3.20 per copy Bookstore discounts 4.00 per copy Salespersons' 0.50 per copy commissions Author's royalties 2.00 per copy Each book sells for $20.00. The company sold 8,000 books in June and 10,000 books in July. The contribution margin ratio for the book is: (round your final answer to the nearest tenth of a percent.) O 71.5% 52.0% 51.5% O 54%

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 11EA: Markson and Sons leases a copy machine with terms that include a fixed fee each month plus acharge...

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Markson and Sons leases a copy machine with terms that include a fixed fee each month of $500 plus a charge for each copy made. The company uses the high-low method to analyze costs. If Markson paid $360 for 5,000 copies and $280 for 3,000 copies, how much would Markson pay if it made 7,500 copies?
Canary Lawnmowers sold 75 lawnmower parts at $5.00 per part to a customer on December 4. The cost to Canary is $3.00 per part. Terms of the sale are 4/10, n/25, invoice dated December 4. The customer pays their account in full on December 16. On December 21, the customer discovers 22 of the parts are the wrong size, but decides to keep them after Canary gives them an allowance of $1.00 per part. Record the journal entries to recognize these transactions for Canary Lawnmowers.
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