Gross margin percentage, Joe's revenue grew 33% and his

Gross margin percentage

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Reference no: EM131555334

Joe's bakery had sales of $80,000 this year and sales of $60,000 last year. Joe's costs of goods sold this year was $60,000 and last year it was 40,000. Joe's fixed costs were $10,000 this year and $10,000 last year.

A. Joe's revenue grew 33% and his profit margin improved.

B. Joe's gross profit percentage improved this year but net profit percentage remained the same.

C. Joe's gross profit margin percentage declined this year, but net profit percentage was steady.

D. Joe's net profit remained the same even though his revenue improved 33% and his net profit percentage declined and so did his gross margin percentage.

Reference no: EM131555334

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