Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Blossom Corp. has annual sales totaling $ 1 0 1 4 0 0 0 and an average gross profit of 2 0 % of cost

image text in transcribed
Blossom Corp. has annual sales totaling $1014000 and an average gross profit of 20% of cost. What is the dollar amount of the gross profit?
$169000.
$152100.
$253500.
$202800.
image text in transcribed

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_2

Step: 3

blur-text-image_3

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

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

16th edition

1259307417, 978-1260153132, 1260153134, 978-1259307416

More Books

Students also viewed these Accounting questions

Question

Discuss the methods of setting transfer prices. LO6

Answered: 1 week ago

Question

Explain why firms choose to decentralize. LO2

Answered: 1 week ago

Question

Explain the role of transfer pricing in a decentralized firm. LO5

Answered: 1 week ago