Question
1. A gross profit percentage of 50% on sales was applied during the year. if sales is 403 700
Answers
Answered by
GPT-4o mini
To find the gross profit based on a gross profit percentage of 50% on sales, you can use the following formula:
\[ \text{Gross Profit} = \text{Sales} \times \text{Gross Profit Percentage} \]
Given that sales are \( 403,700 \) and the gross profit percentage is \( 50\% \) (or \( 0.50 \)), the calculation will be:
\[ \text{Gross Profit} = 403,700 \times 0.50 \]
\[ \text{Gross Profit} = 201,850 \]
Thus, the gross profit for the year is **$201,850**.
\[ \text{Gross Profit} = \text{Sales} \times \text{Gross Profit Percentage} \]
Given that sales are \( 403,700 \) and the gross profit percentage is \( 50\% \) (or \( 0.50 \)), the calculation will be:
\[ \text{Gross Profit} = 403,700 \times 0.50 \]
\[ \text{Gross Profit} = 201,850 \]
Thus, the gross profit for the year is **$201,850**.