Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Consolidated Corporation had the following information: ? Revenues $250,000 Cost of goods sold: Direct materials $50,000 Direct labor 37,500 Overhead 62,500 150,000 Gross profit $100,000
Consolidated Corporation had the following information:
?
| Revenues | $250,000 | |
| Cost of goods sold: | ||
| Direct materials | $50,000 | |
| Direct labor | 37,500 | |
| Overhead | 62,500 | 150,000 |
| Gross profit | $100,000 | |
| Selling and administrative expenses | 37,500 | |
| Operating income | $ 62,500 | |
?
What is the markup based on materials?
| a. | 71.4% | |
| b. | 185.7% | |
| c. | 400.0% | |
| d. | 42.9% |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started