During the month of July, Job 55 was started. Data are as follows: Units produced is 1,200 units; Units sold is 1,200 ; raw materials requisitioned is 8,440 (includes indirect materials of 1,000); Direct labor hours is 3,600 hours; Direct labor rate per hour is 30; Overhead rate per direct labor hour is 37.50. Products are sold to customer at 125% of cost. Under the normal cost, what is the gross margin for the products sold?

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To calculate the gross margin for the products sold under the normal cost well need to compute the t... View the full answer