Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Start by filling in the highlighted items. What is the total dollar amount that this business spent on materials to produce their product? Line Item

Start by filling in the highlighted items. What is the total dollar amount that this business spent on materials to produce their product?

Line Item

Dollars

Percentage

Revenue

1,000,000

100%

Cost of Goods Sold

35%

Total Payroll Cost

330,000

Cost of Occupancy

12%

Other Costs

85,000

Profit

  1. Assume that the revenue was 10% higher. What is the new dollar amount and percentage for Cost of Goods sold?
  2. What is the percentage of total payroll to revenue?
  3. What is the profit expressed both in percentage of revenue and in dollars?

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

Introductory Financial Accounting for Business

Authors: Thomas Edmonds, Christopher Edmonds

1st edition

1260299449, 978-1260299441

More Books

Students also viewed these Accounting questions