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What is cost formula for selling and administrative expense

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Reference no: EM132469949

An income statement for Sam's Bookstore for the first quarter of the year is presented below:

Sam's BookstoreIncome StatementFor Quarter Ended March 31

Sales                                                       $930,000

Cost of goods sold                                       655,000

Gross margin                                               275,000

Selling and administrative expenses Selling      $105,000

Administration                                       114,000 219,000

Net operating income                                  $56,000

Point 1: On average, a book sells for $60. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed.

Question 1: What The cost formula for selling and administrative expenses with "X" equal to the number of books sold is:

Reference no: EM132469949

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