Question
1. You sell a 3 pack of lens that attach to smart phones to improve the quality of pictures people take. You pay $29.95 for
1. You sell a 3 pack of lens that attach to smart phones to improve the quality of pictures people take. You pay $29.95 for each 3 pack and sell them for $59.95. What is your Gross Profit Margin Percentage for this item?
2. You sell a security system to home owners. Each system costs you $85 and your technician charges you $95 for the installation of the system. What price would you need to sell your system at to have a 50 percent Gross Profit Margin Percentage?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To calculate the Gross Profit Margin Percentage for each item in the given scenarios 1 Gross Profit ...
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Step: 2
Step: 3
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
