Mason Cabinet Company sells standard kitchen cabinets.The following information summarizes Mason's operating activities for the year:
$$\begin{array} { | l | r | }
\hline \text { Selling and Administrative Expenses } & \$ 42,750 \
\hline \text { Purchases } & 85,700 \
\hline \text { Sales Revenue } & 154,500 \
\hline \text { Merchandise Inventory, January 1 } & 12,500 \
\hline \text { Merchandise Inventory, December 31 } & 16,200 \
\hline
\end{array}$$ Mason sold 950 cabinets during the year.
Calculate the operating income for the year.
Compute the unit cost for one cabinet (Round to two decimal places. )

Question

Mason Cabinet Company sells standard kitchen cabinets.The following information summarizes Mason's operating activities for the year:
 $$\begin{array} { | l | r | } 
\hline \text { Selling and Administrative Expenses } & \$ 42,750 \
\hline \text { Purchases } & 85,700 \
\hline \text { Sales Revenue } & 154,500 \
\hline \text { Merchandise Inventory, January 1 } & 12,500 \
\hline \text { Merchandise Inventory, December 31 } & 16,200 \
\hline
\end{array}$$ Mason sold 950 cabinets during the year.
Calculate the operating income for the year.
Compute the unit cost for one cabinet (Round to two decimal places. )

Quizplus · Accepted Answer

The Answer of Mason Cabinet Company sells standard kitchen cabinets.The following information summarizes Mason's operating activities for the year:
 $$\begin{array} { | l | r | } 
\hline \text { Selling and Administrative Expenses } & \$ 42,750 \
\hline \text { Purchases } & 85,700 \
\hline \text { Sales Revenue } & 154,500 \
\hline \text { Merchandise Inventory, January 1 } & 12,500 \
\hline \text { Merchandise Inventory, December 31 } & 16,200 \
\hline
\end{array}$$ Mason sold 950 cabinets during the year.
Calculate the operating income for the year.
Compute the unit cost for one cabinet (Round to two decimal places. )

Mason Cabinet Company Sells Standard Kitchen Cabinets Mason Sold 950 Cabinets During the Year