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OLEGan [10]
3 years ago
5

Calculate the gross margin in both dollars and percentage for this swim department if net sales are $1,150,000 and cost of goods

sold is $638,400.
Business
1 answer:
yawa3891 [41]3 years ago
6 0

The gross margin ratio is also known as the gross profit margin or the gross profit percentage.<span>

The gross margin ratio is computed by dividing the company's gross profit dollars by its net sales dollars.</span>

 swim department net sales--------------------- $1,150,000

 cost of goods sold<span> -------------------------------- $638,400</span>

  This means its gross profit is $511,600  (net sales of $1,150,000 minus its cost of goods sold of $638,400) and its gross margin ratio is 44% (gross profit of $511,600  divided by net sales of $1,150,000).

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Answer:

Option (b) is correct.

Explanation:

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Consumers surplus = Willingness to pay for the product - Actual amount paid for the product

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