A company has total sales of$500,000 and a cost of goodssold (COGS) of $300,000.What is the company's grossprofit margin? a) 20% b) 30%c) 40% d) 60%

Explanation of Total Sales: Total Sales represents the total revenue generated from selling goods or…

Answered: A company has total sales of $500,000…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter6: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 7BE: Margin of safety Jorgensen Company has sales of 380,000,000, and the break-even point in sales...

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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%