问一道题：NO.PZ201512300100000604 第4小题 [ CFA II ]

B.

67.0%.

C.

69.1%.

解释：

C is correct.

The calculation of Archway’s gross profit margin for 2015, which reflects the industry-wide 8% inflation on cost of goods sold (COGS), is calculated as follows:

Revenue growth = (1 + Price increase for revenue) × (1 + Volume growth) - 1

Revenue growth = (1.05) × (0.97)  -  1 = 1.85%

COGS increase = (1 + Price increase for COGS) × (1 + Volume growth) - 1

COGS increase = (1.08) × (0.97) -  1 = 4.76%

Forecasted revenue = Base revenue × Revenue growth increase

Forecasted revenue = 100 × 1.0185 = 101.85

Forecasted COGS = Base COGS × COGS increase

Forecasted COGS = 30 × 1.0476 = 31.43

Forecasted gross profit = Forecasted revenue - Forecasted COGS

Forecasted gross profit = 101.85 - 31.43 = 70.42

Forecasted gross profit margin = Forecasted gross profit/Forecasted revenue

Forecasted gross profit margin = 70.42/101.85 = 69.14%