Multiple Choice
Patch Work's product, Patch Supreme, sells for $62.00 and its variable cost is $44.60 while the cost of goods sold per unit is $42.80.What is Patch Work's markup percentage on variable cost and what is its gross margin percentage?
A) 39%; 45%
B) 28%; 45%
C) 39%; 31%
D) 28%; 31%
Correct Answer:
Verified
Correct Answer:
Verified
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