Sales total ($ 445,000), cost of goods sold is ($ 220,000), and operating expenses are ($ 175,000).

Question:

Sales total $\$ 445,000$, cost of goods sold is $\$ 220,000$, and operating expenses are $\$ 175,000$. How much is gross margin?

a. $\$ 445,000$

b. $\$ 50,000$

c. $\$ 270,000$

d. $\$ 225,000$

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Horngrens Accounting Volume 1

ISBN: 9780135359709

11th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

See More Books

Question Posted: May 08, 2024 12:02 PM

See More Questions

The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1 and 2. On September 1, Irene opened a retail store that specializes in sports car...
Matching Financial Statement Items to Financial Statement Categories According to its annual report, P&Gs more than 250 brands include Pampers, Tide, Ariel, Always, Whisper, Pantene, Bounty,...
If {u1, u2,..., uk} is an orthonormal set of vectors in Rn and U = (ul, u2, uk) then UTU = Ik (the k k identity matrix).
Presented below is information related to Hoerl Co. for the month of January 2017. Instructions (a) Prepare the necessary adjusting entry for inventory. (b) Prepare the necessary closingentries....
S & S Janitorial, Inc., paid $$600$ for supplies and purchased additional supplies on account for $$800.$ S & S Janitorial, Inc., also paid $$300$ of the accounts payable. What is the balance...
Organic Health Co. is an HMO for businesses in the Chicago area. The following account balances appear on the balance sheet of Organic Health Co.: Common stock (300,000 shares authorized), $100 par,...
You are an economist hired by Denny's to help the company project future sales of two of the products it sells - Coffee and Orange Juice. Here are some facts about these products Assumptions and...
A purchase discount results from a. Returning goods to the seller b. Receiving a purchase allowance from the seller c. Buying a large enough quantity of merchandise to get the discount d. Paying...
The major expense of a merchandising business is a. Cost of goods sold b. Amortization c. Rent d. Interest
Frances paid income tax and Class 4 NICs of 47,000 for tax year 2019-20, of which 19,000 was paid via the PAYE system. Her total liability for 2020-21 is 69,000, of which 21,000 is paid via PAYE. Her...
Subsequent to the release of the Company's financial statements and after the engagement file was locked down, it was determined that the final attorney's letter had been inadvertently left out of...
Karen and Pete are married and will file a joint return. They brought all of their tax documents to Jamal to prepare their return. The three documents are a Form w-2 for Karen($55,300), a Form w-2...
Poseidon is in the business of catching and selling lobster on the Maine coast. In the current year, Poseidon sold a parcel of land used in his business for $115,000; he paid $100,000 for the land...
Solve: 9-36x+3| < 0
H. As a new analyst, you have obtained the prices for the stocks of both Lulu and Lemon. Both stocks did not paid any dividends during the entire period. Your manager has asked you to compute the...
A small spherical object carries a charge of 8.00 nC. At what distance from the center of the object is the potential equal to 100 V? 50.0 V? 25.0 V? Is the spacing of the equipotentials proportional...
Suppose that a business sells 6-month subscriptions to its monthly magazine. On January 1, the company receives a total of $600 for 10 subscriptions. To record this transaction, the company debits...
Describe the term refers to similarities and differences among people, including those such as race, age, ethnicity, physical abilities and characteristics, and gender?
You work in a restaurant. You have observed several of the cooks in the restaurant using drugs anc believe that they are a hazard to themselves and others. What is the MOST professional way to handle...
Technological , political, and competitive influences are categorized as what type of major influence on business buyer behavior? Explain

Sales total ($ 445,000), cost of goods sold is ($ 220,000), and operating expenses are ($ 175,000).

Question:

Step by Step Answer:

Horngrens Accounting Volume 1

Students also viewed these Business questions