A company increased its gross profit margin from 30% to 35%. What was the gross profit if revenues of $1.6 million were made at the improved margin?

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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hello tutor please help me accounting question

A company increased its gross profit margin from
30% to 35%. What was the gross profit if revenues
of $1.6 million were made at the improved margin?
Transcribed Image Text:A company increased its gross profit margin from 30% to 35%. What was the gross profit if revenues of $1.6 million were made at the improved margin?
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