Johnson Healthcare is a health care firm specializing in products for persons who are disabled. Johnsonplans to maintain a 10% gross profit margin. After analyzing last year’s data, you found that Johnsonhad gross profit of $250,000 and net sales of $1,500,000. What was the gross profit margin, and by whatpercentage did the firm achieve its goal?
Johnson Healthcare is a health care firm specializing in products for persons who are disabled. Johnsonplans to maintain a 10% gross profit margin. After analyzing last year’s data, you found that Johnsonhad gross profit of $250,000 and net sales of $1,500,000. What was the gross profit margin, and by whatpercentage did the firm achieve its goal?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Johnson Healthcare is a health care firm specializing in products for persons who are disabled. Johnson
plans to maintain a 10% gross profit margin. After analyzing last year’s data, you found that Johnson
had gross profit of $250,000 and net sales of $1,500,000. What was the gross profit margin, and by what
percentage did the firm achieve its goal?
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