Suppose you make beautiful coffee tables out of juniper trees. Your materials cost for each table is $135. You pay your craftsman $25 per hour and it takes him 5 hours to complete one table. If you sell these tables for $689, what is your Cost of Goods Sold Percentage?

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
icon
Related questions
Question

Suppose you make beautiful coffee tables out of juniper trees. Your materials cost for each table is $135. You pay your craftsman $25 per hour and it takes him 5 hours to complete one table. If you sell these tables for $689, what is your Cost of Goods Sold Percentage? 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

Suppose you sell 8,000 of the 3 pack of lenses described in question 3 above in one year. Your cost on each pack is $29.95 and you sell them for $59.95. If your operating expenses for the year total $144,080, what are your Net Income and Net Profit Margin Percentage?

Solution
Bartleby Expert
SEE SOLUTION
Follow-up Question

Suppose your company sells a packs of lenses attach to smart phones to improve the quality of picture people take.you pay 29.89for each 3pack 59.95what is goods sold percentage for this item? 

Solution
Bartleby Expert
SEE SOLUTION
Follow-up Question

You make beautiful  coffee tables out of juniper trees. You funded this business  yourself with a 50,000 investment.  You sold 875 tables year  one at 689 per table. Your material  and labor costs were 227,500 for the year, and your additional  operating  expenses  were  224,000. What us your ROI on your initial  investment  for this first year?

Solution
Bartleby Expert
SEE SOLUTION
Follow-up Question

What is the gross profit margin on the coffee tables described?

Solution
Bartleby Expert
SEE SOLUTION
Similar questions
Recommended textbooks for you
Principles Of Marketing
Principles Of Marketing
Marketing
ISBN:
9780134492513
Author:
Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:
Pearson Higher Education,
Marketing
Marketing
Marketing
ISBN:
9781259924040
Author:
Roger A. Kerin, Steven W. Hartley
Publisher:
McGraw-Hill Education
Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing: An Introduction (13th Edition)
Marketing
ISBN:
9780134149530
Author:
Gary Armstrong, Philip Kotler
Publisher:
PEARSON
MKTG 12:STUDENT ED.-TEXT
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:
9781337407595
Author:
Lamb
Publisher:
Cengage
Contemporary Marketing
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning