A Company Has Net Sales of $612,850 and Cost of Goods

question 37

Multiple Choice

A company has net sales of $612,850 and cost of goods sold of $441,252.The company's gross profit percentage is:

• A)72%.
• B)3.57%.
• C)0.389%.
• D)28%.

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Definitions:

Budgeted Units

An estimated quantity of goods or services that a company plans to sell or produce within a specific period.

Production

The process of creating, manufacturing, or using goods and services.

Units

Basic quantities or measurements in which variables, production, or processes are expressed and analyzed.

February

The second month of the Gregorian calendar, known for having 28 days in common years and 29 days in leap years.