Use the following information to answer this question The following are the final accounts of a trading organisation Wazobi ventures, for the year ended 30th June, 19x8 What is the Gross Profit on percentage of sale?

Sunday, 13 April 2025

Use the following information to answer this question The following are the final ...

Trending Questions

** Free JAMB 2025 CBT Practice **

In a federal system,the essence of specifying the constitutional relationship between ...

Abraham circumcised his son,Isaac, on the eight days because

In mammals, the exchange of nutrients and metabolic products occurs in the

The problems of conducting census include?

Take Free Practice Test On 2025 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

Use the following information to answer this question
The following are the final accounts of a trading organisation Wazobi ventures, for the year ended 30th June, 19x8

	â‚¦	â‚¦
Salesless: cost of goods sold		233,000170,000
		63,000
less: Overhead ExpensesAdmin expensesSelling expensesOther overhead expenses	16,80015,0006,200
Net profit		25,000

What is the Gross Profit on percentage of sale?

A. 2.7%
B. 0.27%
C. 27.0%
D. 29.8%

Explanation

Gross profit % on sales = gross profitÂ Ã· sales x 100
=

\frac{63, 000}{233, 000}

x 100 =27%

Prev Current Next

STAY UPDATED
FOLLOW US ON :

Facebook

Subjects

• Accounts - Principles of Accounts

• Christian Religious Knowledge (CRK)

• Islamic Religious Knowledge (IRK)

All Views, Names, Acronyms, Trademarks, Expressed on this website are those of their respective owners. Please note that www.schoolngr.com is not affiliated with any of the institutions featured in this website. It is always recommended to visit an institutions or sources official website for more information. In the same vein, all comments placed here do not represent the opinion of schoolngr.com

Register • Login