The photo department of Santiago Company shows gross sales of $730,600 for chemical supplies and $934,900 for general office supplies. It has determined that chemical supplies cost $534,000 and that general office supplies cost $391,400. What is the gross profit percentage for the general office supplies section of the photo department?

Question

Quizplus · Accepted Answer

Gross profit percentage is calculated as (Gross Profit / Gross Sales) * 100. For general office supplies, Gross Profit = $934,900 - $391,400 = $543,500. Gross Profit Percentage = ($543,500 / $934,900) * 100 = 58.1%.

The Photo Department of Santiago Company Shows Gross Sales of $730,600