Delmont Movers Has a Profit Margin of 7

question 7

Multiple Choice

Delmont Movers has a profit margin of 7.1 percent and net income of $63,700.What is the common-size percentage for the cost of goods sold if that expense amounted to $522,600 for the year?

• A)12.19 percent
• B)23.50 percent
• C)53.25 percent
• D)61.06 percent
• E)58.25 percent

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Definitions:

Average Price

The sum of prices of all goods or services divided by the number of units, used to give a general idea of price levels in a market.

Savings And Loan Debacle

Refers to a financial crisis in the United States during the 1980s and early 1990s when many savings and loan associations failed due to risky business practices.

Interest Rates

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