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Cost is $4.70 selling price $33.95 what is the gross profit

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33.95 minus 4.70

Posted on May 07, 2017

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1 Answer

I am trying to figure out how to use the Cost, Sell, and margin buttons on this calculator...any insight?


I haven't used a calculator with these functions, so let's do a test.

I'm guessing is it for doing basic accounting. The equation is Sales - Costs = Gross Profit and maybe Gross Profit / Sales = Gross Margin.

If we enter 100 in sell, 40 in cost, does the margin come out to be 60 or 0.6? If it comes out to 60, the margin is the Gross Profit. If it comes out to 0.6, then the margin is Gross Margin.

Good luck,

Paul

May 12, 2016 | Office Equipment & Supplies

1 Answer

If the unit selling price is $2.50 and the unit cost is $1.00, what action is needed to maintain the gross margin percentage when unit cost increases .25


Hi,

Let's set up a table to see it (sorry, I'm a visual learner;)

Selling Price $2.50 x
Unit Cost $1.00 $1.25
-------
Gross Profit $1.50 x - 1.25

Gross Margin 60% 60%

Time for some algebra;)

x - 1.25 0.6
---------- = -------
x 1

Now we can cross-multiply or multiply both sides by x to get rid of the fraction.

x - 1.25 = 0.6 x

Subtract 0.6x from both sides and add 1.25 to both sides to get the variables on one side and the constants on the other.

x - 0.6 x = 1.25
0.4x = 1.25

Divide both sides by 0.4 to get x by itself.

x= 1.25
------
0.4

x= 3.125

Good luck.

Paul

Feb 12, 2015 | Office Equipment & Supplies

1 Answer

Please can you give me a formula to calculate GP for a new product?


Does GP stand for Gross Profit? Sorry to ask but one could read it as Grand Prix, Genera Purpose (Jeep), etc.
If you mean gross profit, then it is defined as
gross profit = revenue - cost of goods sold.

Oct 01, 2013 | Office Equipment & Supplies

1 Answer

What make the gross profit percentage increase


Gross profit =total revenue -cost of doing business
Gross profit percentage = Gross profit/(Total revenue.)*100%
To increase the gross profit percentage, you decrease the cost of doing business.
Costs= all you have to spend to be able to do business (merchandises, employees' pay, rent of facilities, electric bills, etc.)

Sep 29, 2013 | Office Equipment & Supplies

1 Answer

A shopkeeper bought 20 buckets for Rs 1200. Find the selling price of each bucket, if he wants to make a profit of Rs 15.50 on each bucket.


Ow this is a math problem! Here is my solution:
Based on the purchased price or Rs1200 for the 20 buckets, each bucket would then cost 1200 / 20 = Rs 60.
To make a profit of Rs 15.50 per bucket, he should sell each bucket with the price of Rs 60 + 15.50 = Rs 75.5.
=)

Mar 02, 2011 | Cell Phones

1 Answer

1) A trader bought 45 dozen items for 2700 naira. If 15% of the items got destroyed, what should be the cost per item to make a profit of 265? 2) A woman bought 200 mangoes for 800 naira she discovered...


Answer A:

45 dozen: 12 x 45 = 540

Destroyed: 15% of 540 = 540 x (15/100) = 81

Remaining: 540 - 81 = 459

A profit of 265 means that 459 items must sell at 2700+265=2965 naira or 2965/459=6.46 naira approximately.

Cost per item = 6.46 or 6.5 naira approximately


Answer B:

Cost = 800 naira

8 spoilt. Remaining = 200 - 8 = 192 OR 16 dozen (12x16=192)

Selling price: 60 naira per dozen = 60 x 16 = 960 naira

Profit made (selling price - cost price) = 960 - 800 = 160 naira. Percent profit = Profit/cost x 100 = 160/800 x 100 = 20%

Percentage profit = 20%

Oct 12, 2010 | Computers & Internet

2 Answers

How to do profit and loss a/c in ms excel


Hi saleem_share,
I'm not sure why you would want to use excel to create a P&L, but the same formula would apply to excel as it would for a standard P&L. In one section of the spreadsheet add all of your income accounts. Then Subtract your cost of sales from that. That would equal your Gross Profit. After that add all the rest of your Expenses, and subtract from the Gross Profit, which would give you your net Profit or Loss Example:
Description
Amount
Formula
Sales Product A
1,000.00

Sales Product B
1,000.00

Total Sales
2,000.00
SUM(C1:C2)
Cost of Sales Product A
500.00

Cost of Sales Product B
200.00

Total Cost of Sales
700.00
SUM(C5:C6)
Gross Profit
1,300.00
SUM(C4-C7)



Auto
25.00

Utilities
50.00

Payroll
300.00

Office Supplies
20.00

Total Expenses
395.00

Net Profit
905.00
SUM(C8-C14)


I hope this helps

Mark

Jan 05, 2009 | Microsoft Computers & Internet

1 Answer

College algebra


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Aaron works part time as a salesperson for an electronics store. He earns $6.75 per hour plus a percent commission on all of his sales. Last week Aaron worked 17 hours and earned a gross income of $290.63. Find Aaron’s percent commission if his total sales for the week were $3,350. If necessary, round your answer to the nearest hundredth of a percent.
A cross-section of a standard or normal "two-by-four" board actually measures 1 1/2 in. by 3 1/2 in. The rough board is 2in. by 4in. but is planed and dried to the finished size. What percent of the wood is removed in planing and drying?
A new fax machine was purchased for an office in HopeDale for $464.40 including tax. If the tax rate is 8 % , find the price of the fax machine before taxes.

Oct 01, 2008 | Computers & Internet

2 Answers

How do I use the Cost/Sell/Margin function on my Canon P100-DH 2 desktop printing calculator? Please for the love of god help me.


Cost/Sell / Margin can be very confusing it uses the following Account formulas (For Cost = Selling price - ( Selling price / Markup) For Sell = Selling Price =Cost / (1-Margin%))

It is not a pure percentage. Please respond back if you have any other questions.

Apr 22, 2008 | Office Equipment & Supplies

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