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  3. superior markets, inc., operates three stores in a

Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing...

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Accounting

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Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is givenbelow: Superior Markets, Inc. Income Statement For the Quarter Ended September 30 North Store South Store East Store Total $3,480,000 $880,000 $1,360,000 $1,240,000 Sales Cost of goods sold 1,922,800 492,800 748,000 682,000 Gross margin 1,557,200 387,200 612,000 558,000 Selling and administrative expenses: Selling expenses: Administrative expenses 969,800 282,600 490,340 139 365,400 187,980 321,800 162,720 ,640 Total expenses 1,460,140 422,240 553,380 484,520 Net operating income (loss) $ 97,060 (35,040) S 58,620 $ 73,480

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