The following cost data pertains to Crazy Cow Corp. for December 31st, 2022:
Ending Raw Materials Inventory: $160,000
Beginning Work-in-Process: $40,000
Ending Work-in-Process: $20,000
Direct Materials Used: $100,000
Direct Costs Incurred in Production: $200,000
Indirect Costs Incurred in Production: $100,000
Beginning Finished Goods Inventories: $120,000
Ending Finished Goods Inventories: $60,000
Sales: $600,000
Selling and Administrative Expenses: $160,000
Calculate the Crazy Cow's Gross Profit Percentage for 2022?

Answer rating: 100% (QA)

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