Cost Management: A Strategic Emphasis 7th Edition by Edward Blocher,David Stout ,Paul Juras,Gary Cokins

Exercise 33

Johnson Healthcare is a health care firm specializing in products for the disabled. Johnson plans to maintain a 10% gross profit margin. After analyzing last year's data, you found that Johnson had gross profit of $250,000 and net sales of $1,500,000. What was the gross profit margin, and by what percentage did the firm achieve its goal