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A business improves its gross profit margin from 20% to 22%. What was the gross profit if revenues of $1.5 million were made at the improved margin?

A business improves its gross profit margin from 20% to 22%. What was the gross profit if revenues of $1.5 million were made at the improved margin?

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 3DQ
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A business improves its gross profit margin from 20% to 22%. What was the gross profit if revenues of $1.5 million were made at the improved margin?
Transcribed Image Text:A business improves its gross profit margin from 20% to 22%. What was the gross profit if revenues of $1.5 million were made at the improved margin?
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