Gross profit of $1.25 on each sale ? General accounting John wants to start selling homemade cookies. Each cookie costshim $0.75 to make. What should he charge per cookie to earn agross profit of $1.25 on each sale?a. $1.75b. $2.25c. $2.00d. $1.50

Step 1: Definition of Selling PriceThe selling price is the total amount charged to a customer for a…

Answered: John wants to start selling homemade…

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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John wants to start selling homemade cookies. Each cookie costs him $0.75 to make. What should he charge per cookie to earn a gross profit of $1.25 on each sale? a. $1.75 b. $2.25 c. $2.00 d. $1.50