calculate the net profit for an item sold for $115 that has a $37 cost of goods sold and 10% operating…

calculate the net profit for an item sold for $115 that has a $37 cost of goods sold and 10% operating expense cost. net profit = $?

calculate the net profit for an item sold for $115 that has a $37 cost of goods sold and 10% operating expense cost. net profit = $?

Answer

Explanation:

Step1: Calculate operating expense

Operating expense = 10% of selling - price. Selling - price is $115. So, operating expense = $115×0.1 = $11.5.

Step2: Calculate net profit

Net profit = Selling price - Cost of goods sold - Operating expense. Cost of goods sold is $37, selling price is $115 and operating expense is $11.5. So, net profit = $115−$37−$11.5 = $66.5.

Answer:

$66.5$