calculate the net profit for an item sold for $150 that has a $65 cost of goods sold and 10% operating…
calculate the net profit for an item sold for $150 that has a $65 cost of goods sold and 10% operating expense cost. net profit = $?
Answer
Explanation:
Step1: Calculate operating expense
Operating expense = Selling price × 10% = $150\times0.1 = 15$
Step2: Calculate net profit
Net profit = Selling price - Cost of goods sold - Operating expense = $150 - 65-15$ $= 70$
Answer:
$70$