Net Sales for the Year Were $325,000 and Cost of Goods

question 24

Multiple Choice

Net sales for the year were $325,000 and cost of goods sold was $240,500 for the company's existing products.A new product is presently under development and has an expected selling price of $40 per unit in order to remain competitive with similar products in the marketplace. The dollar amount of gross profit and the gross profit ratio for the year were:

• A)$84,500 and 26%, respectively.
• B)$83,500 and 74%, respectively.
• C)$240,500 and 74%, respectively.
• D)$324,000 and 100%, respectively.

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Definitions:

Proactive Behaviours

Actions initiated by an individual to effect change, anticipate outcomes, and engage in future-oriented task management.

Socialization Tactics

Refers to methods used by organizations to integrate new employees into their culture and workflows.

Proactive Behaviours

Actions taken by individuals that are anticipatory, changeful, and self-initiated to influence themselves or their environment.

Proximal Socialization Outcomes

Immediate results that stem from the process of adapting and integrating into a new social environment or group.