Solution-What amount is the gross margin for the quarter

What amount is the gross margin for the quarter

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Reference no: EM133177114

Question - Partial sales budget information for Sally's Shrimp Company follows:

	April	May	June	Total
Cash sales	$50,000	60,000	70,000	180,000
Sales on account	75,000	90,000	105,000	270,000
Total budgeted sales	125,000	150,000	175,000	450,000

If cost of shrimp sold is 70% of sales, what amount is the gross margin for the quarter?

a. $315,000

b. $40,980

c. $450,000

d. $135,000

Reference no: EM133177114

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What amount is the gross margin for the quarter

Reference no: EM133177114

Reference no: EM133177114

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