During the first year of operations, Silverman Company paid $15,085 for direct materials and $10,200...
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Accounting
During the first year of operations, Silverman Company paid $15,085 for direct materials and $10,200 for production worker's wages. Lease payments and utilities on the production facilities amounted to $9200 while general, selling, and administrative costs totaled $4700.00. The company produced 6050 units and sold 3700 units at a price of $8.20 per unit.
What is the amount of gross margin for the year?
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