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I'm having an incredibly difficult time trying to find out how they solved the weighted profit margin. May I have help?

I'm having an incredibly difficult time trying to find out how they solved the weighted profit margin. May I have help?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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I'm having an incredibly difficult time trying to find out how they solved the weighted profit margin. May I have help?

Sales and Revenue Breakdown Product % of Sales Sales Price COGS Contribution Profit Margin Weighted Profit Margin Party Pooch 45% $20.00 $10.40 $9.60 48.00% 21.60% Chicken Cuties 18% $15.00 $7.80 $7.20 48.00% 8.64% Bison Bites 5% $21.00 $10.80 $10.20 48.57% 2.43% Lamb Lovies 32% $24.00 $12.60 $11.40 47.50% 15.20% Total Sales % Average Profit Margin 100% 47.87% (Must equal 100%)
Transcribed Image Text:Sales and Revenue Breakdown Product % of Sales Sales Price COGS Contribution Profit Margin Weighted Profit Margin Party Pooch 45% $20.00 $10.40 $9.60 48.00% 21.60% Chicken Cuties 18% $15.00 $7.80 $7.20 48.00% 8.64% Bison Bites 5% $21.00 $10.80 $10.20 48.57% 2.43% Lamb Lovies 32% $24.00 $12.60 $11.40 47.50% 15.20% Total Sales % Average Profit Margin 100% 47.87% (Must equal 100%)
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