A company earned $3,000 in net income for October. Its net sales for October were $10,000. Its profit margin is: A. 3%. B. 30%. C. 33%. D. 333%. E. $7,000.
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- If a business had sales of $4,219,000 and a margin of safety of 20%, the break-even point was Oa. $5,062,800 Ob. $3,375,200 Oc. $843,800 Od. $7,594,200A business usually has a mark-up of 20% on cost of sales. During a year, its sales were $90,000. What was cost of sales? A $15,000 B $72,000 C $18,000 D $75,000General accounting
- If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit percentage is 70%. 30%. 15%. 100%.ACE Manufacturing has net sales of $90,000, cost of goods sold of $65,000, and operating expenses of $15,000. The gross profit margin (rounded) is 28%. 25%. 10%. O 11%.Calculation
- A company has total sales of $500,000 and a cost of goods sold (COGS) of $300,000. What is the company's gross profit margin? a) 20% b) 30% c) 40% d) 60%A company had $5 million in sales, $3 million in cost of goods sold, and $1 million in selling and administrative expenses during the last fiscal year. If the company's income tax rate was 25%, what was the company's gross profit margin percentage? a. 20% b. 50% c. 30% d. 40%For February, sales revenue is $579,000, sales commissions are 7% of sales, the sales manager's salary is $80,300, advertising expenses are $87,600, shipping expenses total 3% of sales, and miscellaneous selling expenses are $2,000 plus ½ of 1% of sales. Total selling expenses for the month of February are a. $230,695 b. $227,800 c. $169,900 O d. $210,430
- Creswell Corporation's fixed monthly expenses are $29,000 and its contribution margin ratio is 56%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $95,000? a. $12,800 b. $24,200 c. $53,200 d. $66,000For February, sales revenue is $638,000, sales commissions are 5% of sales, the sales manager's salary is $87,100, advertising expenses are $85,400, shipping expenses total 1% of sale, and miscellaneous selling expenses are $2,500 plus 1/2 of 1% of sales. Total selling expenses for the month of February are a.$175,000 b.$216,470 c.$206,900 d.$213,280e. $414,000 Company XYZ made total sales of $250,000 during the month of December. The company also incurred total expenses of $210,000. Of that amount 60% was fixed expenses. Company XYZ expects sales to increase by 13% next month. What is the expected operating profit, in ($) value, next month? Select one: O a. 61,580 O b. 45,200 O c. 40,000 O d. None of the given answers e. 166,000