159-GrossProfitBasics

# 159-GrossProfitBasics - Which factory achieved the highest...

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Name: Class: Date Taken: Total Possible Marks: 26 Gross Profit Basics Complete the following questions in the time allowed by your teacher QUICK DEFINITIONS Write a short, accurate definition for each of the following key terms. (2 marks for each good quality definition) 2 1. Define: sales revenue 2 2. Define: cost of sales 2 3. Define: Gross profit margin 2 4. What is the formula for the gross profit margin? www.tutor2u.net - 1 -

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- 2 - PRACTICE CALCULATIONS 4 5. Calculate the missing data in the table above: Product A: Cost of Sales = Product B: Sales Revenue = Product C: Gross Profit = Product D: Gross Profit Margin = www.tutor2u.net - 2 -
- 3 - 3 6. The table above shows some financial information for three factories from their monthly production. Which factory made the highest gross profit? (one mark)

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Unformatted text preview: Which factory achieved the highest gross profit margin (one mark) and what was the percentage? (one mark) SHORT ANSWERS In this section, please outline short answers or lists to the questions provided 4 7. List up to four items that would be likely to be included in cost of sales for a manufacturer of motor vehicles (one mark for each different, valid item listed) A. B. C. D. E. F. 3 8. Outline three ways in which a business might use the gross profit margin (one mark for each valid use) A. B. C. D. www.tutor2u.net- 3 -- 4 -4 9. List up to four ways in which a business might be able to improve its gross profit margin (one mark for each valid suggestion) A. B. C. D. E. F. G. www.tutor2u.net- 4 -...
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159-GrossProfitBasics - Which factory achieved the highest...

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