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Sunset Industries Inc. had a net income of $320,000 on sales of $1,280,000. What was the company's profit margin? a. 15% b. 20% c. 25% d. 30%

Sunset Industries Inc. had a net income of $320,000 on sales of $1,280,000. What was the company's profit margin? a. 15% b. 20% c. 25% d. 30%

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter16: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 29E
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Sunset Industries Inc. had a net income of $320,000 on sales of $1,280,000. What was the company's profit margin? a. 15% b. 20% c. 25% d. 30%
Transcribed Image Text:Sunset Industries Inc. had a net income of $320,000 on sales of $1,280,000. What was the company's profit margin? a. 15% b. 20% c. 25% d. 30%
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