Net sales are $400,000, cost of goods sold is $310,000, operating expenses are $60,000 and other revenues

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Net sales are $400,000, cost of goods sold is $310,000, operating expenses are $60,000 and other revenues are $5,200. What are the gross profit margin and profit margin?

a. 22.5% and 7.5%

b. 7.5% and 8.8%

c. 22.5% and 8.8%

d. 17.5% and 7.5%

Related Book For answer-question

Financial and Managerial Accounting Using Excel for Success

ISBN: 978-1111993979

1st edition

Authors: James Reeve, Carl S. Warren, Jonathan Duchac

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Posted Date: Oct 05, 2022 05:42 AM

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Net sales are $400,000, cost of goods sold is $310,000, operating expenses are $60,000 and other revenues

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Option C is right Gross profit Net sales Cost of ... View the full answer

Financial and Managerial Accounting Using Excel for Success

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