The following income statements are provided for li, Ask an Expert

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The following income statements are provided for Li Company's last two years of operation: 2012 2013 Number of units produced and sold 4,000 3,200 Sales revenue $59,200 $47,360 Cost of goods sold 29,000 25,000 Gross margin 30,200 22,360 General, selling and administrative expenses 9,700 8,420 Net income $20,500 $13,940 Assuming that cost behavior did not change over the two year period, what is the company's annual fixed general, selling, and administrative cost?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91958495

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