sales growth rate的计算

问题如下：

Candidate A’s forecast:

• Net sales will grow at the average annual growth rate in net sales over the 2010–2012 time period
• 2013 SG&A/net sales ratio will be the same as the average ratio over the 2010–2012 time period.

Based on Exhibits 1, Candidate A’s forecast for selling, general, and administrative expenses in 2013 is closest to:

选项：

A.$23.8 million. B.$25.5 million. C.$27.4 million.

解释：

Candidate A assumes that the 2013 SG&A/net sales ratio will be the same as the average SG&A/net sales ratio over the 2010–2012 time period, and that net sales will grow at the annual average growth rate in net sales over the 2010–2012 time period. Accordingly, the 2013 forecasted selling, general, and administrative expenses are $25.5 million.

Average SG&A/net sales, 2010–2012* =(41.24% + 44.55% + 46.57%)/3 = 44.12%

Average annual growth sales in net sales, 2010–2012**= (7.91% + 6.73%)/2 = 7.32%

2013 net sales = 2012 net sales × (1 + Average annual growth rate in net sales)=$53.9 million × 1.0732 =$57.85 million

2013 SG&A = 2013 net sales × Average SG&A/net sales =$57.85 million × 44.12% = $25.52 million

* SG&A/net sales ratios are calculated as follows:

** Growth rate in net sales is calculated as follows: