calculate the net profit for an item sold for $15 that has a $5 cost of goods sold and 30% operating expense…
calculate the net profit for an item sold for $15 that has a $5 cost of goods sold and 30% operating expense cost. net profit = $?
Answer
Explanation:
Step1: Calculate operating expense
Operating expense = Selling price × Operating - expense rate. So, $15\times0.3=$4.5$.
Step2: Calculate net - profit
Net profit = Selling price - Cost of goods sold - Operating expense. So, $15 - 5-4.5=$5.5$.
Answer:
$5.5$