Given the information provided in this illustration, what are the gross profit and gross margin ratio? Revenue $927,000
Sales Returns $25,000
Sales Discounts $15,100
Net Sales $86900
Cost of Goods Sold $168500
Gross Profit ?
Gross Profit Margin % ?
$927,000 $25,000 $15,100 $886,900 $168,500
a.) Gross Profit: $758,500 Gross Margin Ratio: 82%
b.) Gross Profit: $1,055,400 Gross Margin Ratio: 84%
c.) Gross Profit: $718,400 Gross Margin Ratio: 81%
d.) Gross Profit: $846,800 Gross Margin Ratio: 91%

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours. required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)