A company manufactures a single product for its customers by contracting in advance of production. Thus, the
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A company manufactures a single product for its customers by contracting in advance of production. Thus, the company produces only units that will be sold by the end of each period.For the last period, the following data were available:
SalesP40,000
Direct materials9,050
Direct labor6,050
Rent (9/10 factory, 1/10 office)3,000
Depreciation on factory equipment2,000
Supervision (2/3 factory, 1/3 office)1,500
Salespeople's salaries1,300
Insurance (2/3 factory, 1/3 office)1,200
Office supplies750
Advertising700
Depreciation on office equipment500
Interest on loan300
The gross profit margin percentage (rounded) was
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