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Sales for Tellus Manufacturing are $890,000, cost of goods sold are $694,200, and operating expenses are $35,000. What is the gross profit margin? The gross profit margin is A. 21.6% B. 22.0% C. 18.1% D. 22.9% E. 19.8%

Sales for Tellus Manufacturing are $890,000, cost of goods sold are $694,200, and operating expenses are $35,000. What is the gross profit margin? The gross profit margin is A. 21.6% B. 22.0% C. 18.1% D. 22.9% E. 19.8%

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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Sales for Tellus Manufacturing are $890,000, cost of goods sold are $694,200, and operating expenses are $35,000. What is the gross profit margin? The gross profit margin is A. 21.6% B. 22.0% C. 18.1% D. 22.9% E. 19.8%
Transcribed Image Text:Sales for Tellus Manufacturing are $890,000, cost of goods sold are $694,200, and operating expenses are $35,000. What is the gross profit margin? The gross profit margin is A. 21.6% B. 22.0% C. 18.1% D. 22.9% E. 19.8%
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