Correct answer---------$146,750
Working
Gross profit | $ 58,700.00 |
Gross profit ratio | 40% |
Sales (58700/40%) | $ 146,750.00 |
A company has gross profit of $58,700 and a gross profit percentage of 40%. What were...
A company reported a gross profit percentage of 25% with net sales of $347,800. What is the amount of cost of goods sold? Multiple Choice O $86,950 0 $108,688 0 $326,063 0 $260,850
Which of the following statements regarding gross profit percentage is not correct? The gross profit percentage measures the percentage of profit earned on each dollar of sales. O A decreasing gross profit percentage means that the company is selling products for a greater markup over its cost. O Gross profit percentages vary across industries It is possible for a company to increase both its gross profit percentage and net income without increasing the dollar amount of sales Garcia Company is...
TB MC Qu. 04-96 A company's gross profit... A company's gross profit (or gross margin) was $126,910 and its net sales were $494,200. Its gross margin ratio is: Multiple Choice 1:13 74.3% 8.9% $126.910 25.7% $367.290 < Prev 4 of 12 Next >
A 30% gross profit percentage means that: A. for each dollar of sales, the company has a cost of goods sold of seventy cents. B. for each dollar of sales, the company has a gross profit of thirty cents. C. for each dollar of sales, the company has a cost of goods sold of thirty cents. D. A and B
A company has sales of $725,600 and cost of goods sold of $290,600 Its gross profit equals: Multiple Choice o $(435,000). o $725,600. o $290,600. Ο. $435,000. Ο $1,016,200.
Calculating Gross Profit Percentage Given Percentage of Cost The following are calculations of gross profit as a percentage of cost: 25%, 30%, and 35% Compute gross profit as a percentage of sales for each of the three percentage of cost figures. Note: Round to the nearest whole percentage (for example, enter 20 for 20.44%) Gross profit as a percentage of cost percentage of sales Gross profit as a 25% 0 % 30% 0% 35% 0 %
A company has net sales of $625,600 and cost of goods sold of $412,896. The company's gross profit percentage is: Multiple Choice Ο 0.33%. Ο 2.94%. Ο 349%. Ο 66%.
E5-8 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Computing the Gross Profit Percentage LO5-3 need the Administrative expense Net income Earnings per share Chapter 3.1 Homework Problems E5-8 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Computing the Gross Profit Percentage LO5-3 4.16 points The following data were taken from the records of Township Corporation at December 31 of the current year: eBook $ 98,000 31,000 6,400 Sales revenue Gross profit Selling (distribution) expense Administrative expense Pretax income Income...
Correct reporting of these costs are important as many investors look at a company's gross profit or gross profit percentage to determine the value of the company. Net sales revenue X,XXX Cost of goods sold X,XXX Gross profit XXXX Gross profit % = Sales/Gross Profit If cost were incorrectly classified as period costs versus product cost, net income would not change but gross profit would be higher than if the allocation were correct. Do you think this cost classification is...
A company has net sales of $729,000 and cost of goods sold of $292,000. Its gross profit equals: Multiple Choice $(437,000). $729,000. $292,000. $437,000. $1,021,000.