Financial information is presented below: Operating expenses $24,000; Sales returns and...
Question:
Financial information is presented below:
Operating expenses {eq}\$24,000 {/eq}
Sales returns and allowances {eq}6,000 {/eq}
Sales discounts {eq}4,000 {/eq}
Sales revenue {eq}154,000 {/eq}
Cost of goods sold {eq}92,000 {/eq}
The gross profit rate would be: {eq}\rule{1cm}{0.15mm} {/eq}.
Profit Margin:
The profit margin is computed as the gross profit margin and the net profit margin. The gross profit margin shows the income earned over the operating activities.
Answer and Explanation: 1
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View this answerCompute the gross profit rate as follows:
| Computation for Gross Profit Rate | ||
|---|---|---|
| Particulars | Amount | Amount |
| Ne... | ||
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What Is Gross Profit? - Definition, Formula & Calculation
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Chapter 9 / Lesson 7
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Understand the meaning of gross profit in accounting. Discover the formula for calculating gross profit and explore some examples of gross profit calculation.
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