A company's net sales were $724,200, its cost of goods sold was $244,050 and its net income was $60,000. Its gross margin ratio equals:Multiple Choice8.3%.○о24.6%.33.7%.66.3%.296.7%.

GROSS MARGIN RATIO Gross Margin is the ratio between Gross Profit & Net Sales Revenue. Gross…

Answered: A company's net sales were $724,200,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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United importers report net income $50,000 and COGS of $300,000. If the company’s gross profit rate was 40%, net sales werea. $500,000b. $750,000c. $83,000d. $550,000
A company reported net income of $4,805 for October. Its net sales for October were $15,500. Its profit margin is: Multiple Choice 7%. O 31%. 3%. 323%. 200%.
Please help me to solve this problem
Alpha has assets of $102 millión, costs of goods sold of $24.3 million, and total sales of $97 million. Omega has assets of $12.4 million, costs of goods sold of 1.77 of sales while Omega's costs of million, and total sales of $9.3 million. Based on common-size income statements, Alpha's costs of goods sold consumes goods sold consumes of sales. O 4%; 5.25% O 19%; 25% O 25%; 19% O 25%; 31%
Cushman Company had $814,000 in sales, sales discounts of $12,210, sales returns and allowances of $18,315, cost of goods sold of $386,650, and $280,015 in operating expenses. Gross profit equals: O Multiple Choice $396,825. O $415,140. $409,035. $783,475. $116,810.
Efficiency ratio: Bummel and Strand Corp. has a gross profit margin of 33.7 percent, Sales of $47,112,365, and inventories of $14,595,435. What is its inventory turnover ratio?
A company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit margin of 25%. Sales revenue amounted P7,500,000. The general and administrative, and selling expenses are P1,125,000. Determine the amount of cost of goods sold.
a company has net sales of 814100 and cost of goods sold of 588100 its net income is 32410 the company’s gross margin and operating expenses respectively
A company's gross profit (or gross margin) was $73,920 and its net sales were $352, 000. Its gross margin ratio is: A.21% B.73, 670 C.66% D.276, 130 E.1%
What is the return on assets of The Big Show Inc. that has sales of $428,300, total assets of $389,100, and a profit margin of 7.2 percent? Multiple Choice 7.01 percent 6.30 percent 6.54 percent 7.93 percent 6.83 percent
A company has a net profit margin of 5%, an operating profit margin of 10%, and a gross profit margin of 25%. Sales revenue amounted P7,500,000. The general and administrative, and selling expenses are P1,125,000. Determine the amount of cost of goods sold. * G
Interest expense = 36,000. Sales revenue = 2,195,000. Interest and dividends = 9,000. Selling expenses = 253,000. Administrative expenses = 104,000. Sales returns and allowances = 98,000. Income tax expense = 168,200. Cost of goods sold = 1,281,000. How much is the gross profit?

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A company's net sales were $724,200, its cost of goods sold was $244,050 and its net income was $60,000. Its gross margin ratio equals: Multiple Choice 8.3%. ○ о 24.6%. 33.7%. 66.3%. 296.7%.