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Business
Accounting
View Policies Current Atternpt in Progress Blue Spruce Corp.reported net sales $ 1,000,000; cost of goods sold $ 650,000; operating expenses $262,500; and net income $ 85,000. Calculate the profit margin and gross profit rate. (Round cinauni to 1 clecimal plaos, eg. 10.26) Profit margin Gross profit rate

View Policies Current Atternpt in Progress Blue Spruce Corp.reported net sales $ 1,000,000; cost of goods sold $ 650,000; operating expenses $262,500; and net income $ 85,000. Calculate the profit margin and gross profit rate. (Round cinauni to 1 clecimal plaos, eg. 10.26) Profit margin Gross profit rate

Accounting
Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter21: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 21.18EX
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Question 5 of 8 View Policies Current Attempt in Progress Blue Spruce Corp.reported net sales $ 1,000,000; cost of goods sold $650,000; operating expenses $262 500; and net income $ 85,000. Calculate the profit margin and gross profit rate (Round cinsurs to 1 decimol plaon, eg 10%) Profit margin Gross profit rate 94 Assistance Used eTextbook and Media Seve for Leter Attempts: O of 3 used Submit Answer Using multipte attempts will impactyour score 10% score reduction after atteropt ;
Transcribed Image Text:Question 5 of 8 View Policies Current Attempt in Progress Blue Spruce Corp.reported net sales $ 1,000,000; cost of goods sold $650,000; operating expenses $262 500; and net income $ 85,000. Calculate the profit margin and gross profit rate (Round cinsurs to 1 decimol plaon, eg 10%) Profit margin Gross profit rate 94 Assistance Used eTextbook and Media Seve for Leter Attempts: O of 3 used Submit Answer Using multipte attempts will impactyour score 10% score reduction after atteropt ;
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