Can you explain to me why my teacher said that the answer in here can't be determined? Or was she wrong? Please accompany the explanation with a solution so I could understand better. Thank you. Given: Sales this year=276,000, Sales THIS YEAR at LAST YEAR's prices=230,000 Cost of sales this year=190,000 Cost of sales THIS YEAR at LAST YEAR's price= 180,000. How much is the GROSS PROFIT VARIATION due to SALES QUANTITY factor?
Can you explain to me why my teacher said that the answer in here can't be determined? Or was she wrong? Please accompany the explanation with a solution so I could understand better. Thank you. Given: Sales this year=276,000, Sales THIS YEAR at LAST YEAR's prices=230,000 Cost of sales this year=190,000 Cost of sales THIS YEAR at LAST YEAR's price= 180,000. How much is the GROSS PROFIT VARIATION due to SALES QUANTITY factor?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can you explain to me why my teacher said that the answer in here can't be determined? Or was she wrong? Please accompany the explanation with a solution so I could understand better. Thank you.
Given:
Sales this year=276,000,
Sales THIS YEAR at LAST YEAR's prices=230,000
Cost of sales this year=190,000
Cost of sales THIS YEAR at LAST YEAR's price= 180,000.
How much is the GROSS PROFIT VARIATION due to SALES QUANTITY factor?
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