Using the smith\'s bbq report, if your total cost of sales will increase by 1% next week, how much in total sales must you make next week in order for your gross margin to equal $32,000? (gross margin=total sales - total cost of sales)
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To be able to make a gross margin of around $32000, the total sales must be around $32,324.
What is gross margin?
Gross margin is the total amount of cost benefitted by the sales revenue and the cost derived for the goods being sold. As per the information given above, the total sales calculation will be as $32,324.
Putting the value of total sales in the given formula, the gross margin is $32,000 when the cost of goods being sold has increased by around 1 percent.
Hence, the gross margin will be $32000 when the total sales will be $32,324 and the costs of sales increases by one percent.
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