Martin and Associates purchased $562,960 worth of products from Allied Corp. last year. Total purchases from all sources for the year were $3,628,950. What percent of total purchases were made from Allied Corp.?
To find the percentage of total purchases made from Allied Corp., we can use the following formula:
Percent = (Value of purchases from Allied Corp / Total purchases) * 100
Plugging in the values:
Percent = ($562,960 / $3,628,950) * 100
Percent = 0.155 * 100
Percent = 15.5%
Therefore, 15.5% of total purchases were made from Allied Corp.