Question

Gross profit per unit is calculated by using the formula__________________

Answer 1

Answer: Total sales - Direct Expeneses

Explanation:

Answer 2

Gross Profit per Unit is calculated by the formula selling price-cost of goods sold.

Explanation:

• The gross profit helps in ascertaining the profit at the first level of operations.
• Cost of Goods sold includes all expenses and costs that can be directly attributed to a product.
• For example direct labor, material and any other direct costs.
• It will not take into consideration any other cost that can’t be directed towards one particular product.
• Costs such as administration, marketing, and other indirect cost aren’t included.

To learn more about Gross Profit:

Debit balance of Trading account shows gross profit. (State True or False)

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