Morningside Farms Gross ProfitIncreased Gross Profit $s. Increased Gross Profit Margin(Thousands of $s)20142013ChangeChange %$5,730$2,681$3,049Revenue$5,275$4559%$2,530$2,745$151$304Cost of Goods Sold6%Gross Profit11%Gross Profit Margin(%)53.2%52.0%Suggest some business reasons to explain the changesin gross profit $s and gross profit margin for eachcompany.

Answer The change in gross profit is due to fact that Increase in revenue is more than increase in…

orningside Farms Gross Profit ncreased Gross Profit $s. Increased Gross Profit Margin (Thousands of $s) 2014 2013 Change Change % evenue $5,730 $5,275 $455 $2,681 $3,049 $2,530 $2,745 $151 $304 Cost of Goods Sold 6% ross Profit 11% Gross Profit Margin(%) 53.2% 52.0% ggest some business reasons to explain the chang gross profit $s and gross profit margin for each mpany.

orningside Farms Gross Profit ncreased Gross Profit $s. Increased Gross Profit Margin (Thousands of $s) 2014 2013 Change Change % evenue $5,730 $5,275 $455 $2,681 $3,049 $2,530 $2,745 $151 $304 Cost of Goods Sold 6% ross Profit 11% Gross Profit Margin(%) 53.2% 52.0% ggest some business reasons to explain the chang gross profit $s and gross profit margin for each mpany.

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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