Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A firm always provides 25% mark up on cost when quoting prices to customers. If the cost of a job is $1600. calculate gross profit

A firm always provides 25% mark up on cost when quoting prices to customers. If the cost of a job is $1600.

calculate

gross profit

selling price

gross profit margin

the cost as a percentage of sales

part b

a company maintains a gross profit of 30% of sales price. If the goods have a cost of $280 what will be the selling price?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Comparative International Accounting

Authors: Christopher Nobes, Robert Parker

13th edition

1292081902, 1292081908, 9781292081960 , 1292081961, 978-1292081908

More Books

Students also viewed these Accounting questions