Question: If a company has sales revenue of $638000, net sales of $500000, and cost of goods sold of $384000, the gross profit rate is 23.2%.

If a company has sales revenue of $638000, net sales of $500000, and cost of goods sold of $384000, the gross profit rate is

23.2%.

60.2%.

39.8%.

76.8%.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Multiple Choice Question 140 If a company has sales revenue of $638000, net sales of $500000, and cost of goods sold of $384000, the gross profit rate is 60.2%. 76.8%. 23.2%. 39.8%

Q:

If a company has sales revenue of $644000, net sales of $500000, and cost of goods sold of $380000, the gross profit rate is 24.0%. 41.0%. 59.0%. 76.0%

Q:

If a company has sales revenue of $ 6 4 5 0 0 0 , net sales of $ 5 0 0 0 0 0 , and cost of goods sold of $ 3 9 0 0 0 0 , the gross profit rate is 6 0 % . 2 2 % . 4 0 % . 7 8 % .

Q:

If a company has sales revenue of $635000, net sales of $500000, and cost of goods sold of $393000, the gross profit rate is O 78.6%. O 21.4%. 0 61.9% O 38.1%

Q:

Current Attempt in Progress If a company has sales revenue of $ 6 3 4 0 0 0 , net sales of $ 5 0 0 0 0 0 , and cost of goods sold of $ 3 9 5 0 0 0 , the gross profit rate is 7 9 % . 6 2 % . 3 8 % . 2...

Q:

If a company has sales revenue of $ 6 2 3 0 0 0 , net sales of $ 5 0 0 0 0 0 , and cost of goods sold of $ 4 0 0 0 0 0 , the gross profit rate is 8 0 % . 6 4 % . 2 0 % . 3 6 % :

Q:

If a company has sales revenue of $ 6 4 1 0 0 0 , net sales of $ 5 0 0 0 0 0 , and cost of goods sold of $ 3 9 8 0 0 0 , the gross profit rate is 6 2 . 1 % . 7 9 . 6 % . 2 0 . 4 % . 3 7 . 9 %

Q:

OVERALL EVALUATION 9. Based on your answers to the questions above, what is your overall evaluation of ACMs financial condition? (Pull all your analysis together in answering this question.) 10. What...

Q:

Case Setting : It is getting near the end of the term and you are looking for full-time employment. The anti-virus vaccines are beginning to stem the tide of COVID pandemic. It is anticipated the...

Q:

Based on Chapter 6 and 7 of Cost Accounting book(http://www.turboteamhu.com/wp-content/uploads/2015/10/cost-accounting-a-managerial-emphasis-14ed-horengren1.pdf) answer the attached document Week 5...

Q:

As of February 1, a garage band knows 5 songs. Each week, the band members learn 2 more songs. Let n be the number of songs that the band knows at t weeks since February 1. a. Identify the...

Q:

Clean Duds Laundromat has an industrial water softener that enhances the water quality used in its washing machines. The water softener is approaching the end of its useful life and must be either...

Q:

Which of the following is a nonunit-level driver? a. Direct labor hours b. Machine hours c. Direct materials d. Setup hours e. Assembly hours

Q:

Problem B.2 Question Help LP. Model: 20- Maximize Subject to: Z= 8X + 2Y 1X + 2Y38 0 18- (C1) (C2) 5X + 4y 20 16- XY0 On the graph on right, the constraints C, and C, have been plotted. 12- Using the...

Q:

3. Give an example of a problem or phenomenon in everyday life where information is presented in an emotional way.

Q:

6. How can a message directly influence the interpreter?

Q:

1. Discuss the following statements: (a) The dangers of mountain driving in an old Lada 4 4, and safety concerns. (b) We perceive the world backwards. (c) Numbers are different from words, but they...