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Base questions 32-33 based on the following information: 2016 2017 2018 Sales 1000 1200 1320 COGS 600 Gross Profit 400 Assume in 2016 variable costs

Base questions 32-33 based on the following information:

2016 2017 2018

Sales 1000 1200 1320

COGS 600

Gross Profit 400

Assume in 2016 variable costs are 300.

32. If volume increases were 6% in 2017 and 3% in 2018, what would be gross profit in 2018?

33. If the entire increase in revenue for both 2017 and 2018 was attributable to price, what would gross profit be in 2018?

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