Gray Inc. sold 24,000 units during the month of March. The total cost of the...
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Gray Inc. sold 24,000 units during the month of March. The total cost of the goods sold was $300,000. The sales price of each unit was $17. Gray has two selling costs: commissions equal to 5% of the sales price and fixed selling expenses of $28,000. Administrative expenses totaled $26,000. a. What is Gray's gross profit for March? b. What is Gray's operating income for March
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