A company manufactured 50,000 units of a product at a cost of $250,000. They sold 40,000 units for $10 each. What is Gross Margin?
A) $150,000
B) $200,000
C) $400,000
D) $250,000
B
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Johnson Technology specializes in graphic design and video production. In October 2014, the company incurred the following costs for providing services to one of its clients. Supplies $ 200 Labor 1,500 Overhead 1,800 Johnson Technology's contract with the client discloses 20% profit margin on the cost incurred. Determine the total amount to be received by the company from its client
A) $3,500 B) $3,860 C) $4,200 D) $2,800
The accrual basis of accounting is based primarily on
a. conservatism and revenue realization. b. conservatism and matching. c. consistency and matching. d. revenue realization and matching.
A focused (typically one-week) improvement effort is referred to as a kaizen ______.
a. Focus b. Blitz c. Crunch d. Attack
Any ambiguity in a contract is interpreted against the party who drafted the contract
a. True b. False Indicate whether the statement is true or false