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  2. Business
  3. Cornerstones of Managerial Accounting Study Set 1
  4. Quiz 2: Basic Managerial Accounting Concepts

What Is the Formula to Calculate Gross Margin Percent

Question 55
Multiple Choice

What is the formula to calculate gross margin percent? A) gross margin / cost of goods sold B) operating income / sales revenue C) gross margin / sales revenue D) sales revenue / gross margin

Related questions
Q 56
What is the definition of cost of goods manufactured? A) the cost of direct materials used in production B) the product cost of goods completed during the current period C) the product cost of goods sold during the current period D) the cost remaining in ending work-in-process inventory
Q 57
How is the cost of goods manufactured calculated? A) total product costs incurred during the current period + beginning work in process − ending work in process B) direct materials cost + direct labour cost + overhead cost C) sales − cost of goods sold D) gross margin - other expenses
Q 58
What is the term for the cost of the partially completed goods at the end of the period? A) the beginning work-in-process inventory B) the cost of goods manufactured C) the ending work-in-process inventory D) the ending finished goods inventory
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