Margin vs markup
The ratio is computed by dividing the gross profit figure by net sales. A consistent improvement in gross profit ratio over the past years is the indication of continuous improvement .
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WIP opening inventory is added to and subtracted from total manufacturing cost (direct materials + direct labor + manufacturing overhead) to arrive at cost of goods manufactured. How am I supposed to work this out if thatâs the only given information available? It gives you the actual profit from the transaction if the transaction goes as expected and the potential loss in a worst case scenario.
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