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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?
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
Part A Gross Profit The gross profit is calculated by subtracting the cost from the selling price Si...
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Step: 2
Step: 3
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
9th Edition
1337614689, 1337614688, 9781337668262, 978-1337614689
