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what is the gross margin percentage 613985

The following is Talley Company”s 2010 income statement.

Sales revenue

$540,000

Cost of goods sold

324,000

Gross margin

216,000

Operating expenses

126,000

Operating income

$ 90,000

Required

  1. What is the markup percentage on cost of goods sold?
  2. What is the markup percentage on total cost?
  3. What is the gross margin percentage?
  4. If the company wants to sell a new product that costs $42 wholesale while keeping the same markup structure, what will be the price of the new product?

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