Unit 7 help

greide
greide Registered Posts: 12 Regular contributor ⭐ ? ⭐
Hi,

I am about to take my Unit 7 Sim having missed it during the summer.

I am stuck on the calculations for Gross Profit % of sale and Net Profit % of sale.

I have used to calculations shown in the textbooks and on other webistes but the answers I get do not match those on the answer sheet!

Any help greatly appreciated!

Thanks

Gemma

Comments

  • arf85
    arf85 Registered Posts: 5 Regular contributor ⭐ ? ⭐
    i am also in the same boat in terms of sitting the simulation but im wondering does anyone have any brief notes or useful calculations etc that might be useful to quickly glance at to summarise the main points in unit 7?
  • lorrydee
    lorrydee Registered Posts: 10 Regular contributor ⭐ ? ⭐
    Hi Gemma

    I do not know which silulation you are looking at so I couldn't tell you where you might be going wrong.

    I hope I am not "teaching granny to suck eggs", but are there any returns inwards that you need to deduct from the sales figure before you do the calculation?

    Just a thought....

    If not, let me have the information you are working from and the answers you are getting and I will see if I can work out what's going wrong....

    Lorraine
  • valentino46
    valentino46 Registered Posts: 124 ? ? ?
    greide,

    the % can be calculated as follows:

    gross profit margin % = gross profit x 100/sales

    net profit margin % = net profit x 100/sales

    hope this helps

    rob
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