Asked by roshell ayeshma on Jun 25, 2024
Verified
Blackstone Buildings, Inc. had net sales of $645,000, cost of goods sold of $315,400, and payroll expense of $195,000. Compute the gross profit on sales.
Gross Profit
The difference between sales and the cost of goods sold, representing the fundamental earning efficiency of a company's core activities.
Payroll Expense
The total amount of money a business pays to its employees as wages or salaries, including taxes and benefits, for a specific period.
Cost of Goods Sold
The direct costs attributable to the production of the goods sold in a company.
- Calculate the gross profit from sales transactions.
Verified Answer
Learning Objectives
- Calculate the gross profit from sales transactions.
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