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?

Answer rating: 100% (QA)

Part A Gross Profit The gross profit is calculated by subtracting the cost from the selling price Si... View the full answer