calculate the net profit for an item sold for $59 that has a $38 cost of goods sold and 15% operating…
calculate the net profit for an item sold for $59 that has a $38 cost of goods sold and 15% operating expense cost. net profit = $?
Answer
Explanation:
Step1: Calculate operating expense
Operating expense = Selling price × 15% $59\times0.15 = 8.85$
Step2: Calculate net profit
Net profit = Selling price - Cost of goods sold - Operating expense $59 - 38-8.85=12.15$
Answer:
$12.15$