Abc Corporation Manufactures And Sells Cakes At 12 50 Per Box With Each Box Containi 3290944

ABC Corporation manufactures and sells cakes at $12.50 per box, with each box containing 100 cakes. Income statement presented to shareholders for the quarter just ended are as follows: Sales (400 boxes) 5,000 Cost of goods sold 3,200 Gross margin 1,800 Selling and administrative expenses 800 Net income 1,000

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