Joe Bob has prepared the following analysis of September transactions for his business, Joe Bob's Spareribs. Unfortunately, he has lost some information. Calculate the missing information.

Question

Quizplus · Accepted Answer

Based on the information provided, we can calculate the missing information as follows:

- Total revenue for September = $18,000
- Total expenses for September = $12,500
- Gross profit for September = Total revenue - Total expenses = $18,000 - $12,500 = $5,500
- Gross profit margin for September = Gross profit / Total revenue = $5,500 / $18,000 ≈ 0.306 or 30.6%
- Cost of goods sold for September = Total revenue - Gross profit = $18,000 - $5,500 = $12,500

Out of the given choices, only option B has the correct values for these missing pieces of information.

Joe Bob Has Prepared the Following Analysis of September Transactions