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external financial reports, but not income taxes. 23) Schrute Farm Sales buys portable generators for...

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external financial reports, but not income taxes. 23) Schrute Farm Sales buys portable generators for $450 and sells them for $720. He pays a sales commission of 5% of sales revenue to his sales staff. Mr. Schrute pays $2,000 a month rent for his store, and also pays $1,700 a month to his staff in addition to the commissions. Mr. Schrute sold 200 generators in June. If Mr. Schrute prepares a contribution margin income statement for the month of June, what would be his contribution margin? 23) I A) $241,200 B) $46,800 C) $144,000 D) $97 200 24) Schrute Farm Sales buys portable generators for $450 and sells them for $720. He pays a sales commission of 5% of sales revenue to his sales staff. Mr. Schrute, pays $2,000 a month rent for his store, and also pays $1,700 a month to his staff in addition to the commissions. Mr. Schrute sold 200 generators in June. If Mr. Schrute, prepares a traditional income statement for the month of June, what would be his gross profit? 24) A) $234,000 B) $90,000 C) $54,000 D) $144,000

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