Given answer general Accounting Convert a Gross Profit Margin (markup on selling price)of 75% to its equivalent markup on cost percentage.

Step 1: Define Markup on Selling Price and Markup on Cost PercentageGross Profit Margin (GPM%), also…

Answered: Convert a Gross Profit Margin (markup…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 3EB: A product has a sales price of $175 and a per-unit contribution margin of $75. What is the...

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Which of the following ratios indicates the percentage of each sales dollar that is available to cover fixed costs and to provide a profit? a. costs and expenses ratio b. contribution margin ratio c. margin of safety ratio d. profit ratio
A product has a sales price of $175 and a per-unit contribution margin of $75. What is the contribution margin ratio?
Assume markup percentage equals desired profit divided by total costs. What is the correct calculation to determine the dollar amount of the markup per unit? Select one: a. Total cost per unit times markup percentage per unit. b. Total cost per unit divided by markup percentage per unit. c. Total cost times markup percentage. d. Markup percentage divided by total cost. e. Markup percentage per unit divided by total cost per unit.
What ratio indicates the percentage of each sales dollar that is available to cover fixed costs and to provide a profit? A. Margin of safety ratioB. Contribution margin ratioC. Costs and expenses ratioD. Profit ratio
Which one of the following is defined, at any given sales volume, as the ratio of the total contribution margin to operating profit at that sales volume?
Using the table below, create a line chart in which profit or loss is plotted on the Y-axis and sales volume is plotted on the X-axis. This is commonly called a profit/volume chart. Although sales volume can be expressed in either units or dollars, use units for your chart. Complete the Chart Tickler Data Table to include a column for profits. Use this table as a basis for preparing the chart. Cost-Volume-Profit Analysis Data Section Income Statement in a Contribution Margin Fixed Variable Particulars Amounts Production costs Projected unit sales 120,000 Direct materials $2.30 Selling price per unit $16.00 Direct labor 4.70 Less Vairable Cost Factory overhead $225,000 3.00 Direct materials $2.30 Selling expenses Direct labor 4.70 Sales salaries & commissions 97,000 0.75 Factory overhead…
The contribution margin ratio is calculated as how? a) Gross margin divided by sales b) Operating income divided by sales c) Contribution margin divided by sales d) Net income divided by sales.Answer this question
The difference between total sales in dollars and total variable expenses is called: a. net profit b. net operating income c. the gross margin O d. the contribution margin
select best options with short details
The contribution margin ratio is calculated as how? a) Gross margin divided by sales b) Operating income divided by sales c) Contribution margin divided by sales d) Net income divided by sales Give me answer
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Convert a Gross Profit Margin (markup on selling price) of 75% to its equivalent markup on cost percentage.