International Imports is a merchandising firm.Last year they reported sales of $674,500 and cost of goods sold of $404,700.The company's total variable selling and administrative expense was $60,705,and fixed selling and administrative expense was $53,960.The total variable costs for the firm are
A)$60,705.
B)$114,665.
C)$404,700.
D)$465,405.

Question

Quizplus · Accepted Answer

The total variable costs include both the cost of goods sold ($404,700) and the variable selling and administrative expenses ($60,705), which sum up to $465,405.

International Imports Is a Merchandising Firm