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11 February, 09:36

The following is Talley Company's income statement for the past year. Sales revenue Cost of goods sold 324,000 Gross margin Operating expenses 126,000 Operating income $90,000 $540,000 216,000 what is the markup percentage on cost of goods sold? (Round answer to 0 decimal places, e. g 45%.) Markup percentage what is the markup percentage on total cost? (Round answer to 0 decimal places, e. g 45%.) Markup percentage What is the gross margin percentage? (Round answer to 0 decimal places, e. g 45%.) Gross margin percentage

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  1. 11 February, 10:02
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    Markup percentage on cost of goods sold = (Sales - Cost of goods sold) / Sales

    Markup percentage on cost of goods sold = ((540,000 - 324,000) / 540,000) x 100

    Markup percentage on cost of goods sold = (216,000 / 540,000) x 100

    Markup percentage on cost of goods sold = 0.40 x 100

    Markup percentage on cost of goods sold = 40%

    Total Cost = $324,000 + $126,000 = $450,000

    Markup percentage on total cost = ((Sales - total cost) / Sales) x 100

    Markup percentage on total cost = ((540,000 - 450,000) / 540,000) x 100

    Markup percentage on total cost = (90,000 / 540,000) x 100

    Markup percentage on total cost = 0.1667 x 100

    Markup percentage on total cost = 16.67%%

    Gross Margin Percentage = (Gross profit / Sales) x 100

    Gross Margin Percentage = (216,000 / 540,000) x 100

    Gross Margin Percentage = 0.4 x 100

    Gross Margin Percentage = 40%
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Home » Business » The following is Talley Company's income statement for the past year. Sales revenue Cost of goods sold 324,000 Gross margin Operating expenses 126,000 Operating income $90,000 $540,000 216,000 what is the markup percentage on cost of goods sold?
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