The PJC department of McIntyre Company shows gross sales of $730,600 for computer supplies and $934,900 for general office supplies. It has determined that computer supplies cost $534,000 and that general office supplies cost $391,400. What is the gross profit percentage for the computer supplies section of the PJC department?
To find the gross profit percentage for the computer supplies section, we need to calculate the gross profit first. The gross profit is calculated by subtracting the cost of goods sold from the gross sales.
Gross profit = Gross sales - Cost of goods sold
In this case, the gross sales for computer supplies is $730,600, and the cost of goods sold is $534,000.
Gross profit = $730,600 - $534,000
Now, let's calculate the gross profit:
Gross profit = $196,600
To find the gross profit percentage, we need to divide the gross profit by the gross sales and multiply by 100.
Gross profit percentage = (Gross profit / Gross sales) * 100
Now, let's calculate the gross profit percentage for the computer supplies section:
Gross profit percentage = ($196,600 / $730,600) * 100
Gross profit percentage = 26.91%
Therefore, the gross profit percentage for the computer supplies section of the PJC department is 26.91%.