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:

Sales P40,000

Direct materials 9,050

Direct labor 6,050

Rent (9/10 factory, 1/10 office) 3,000

Depreciation on factory equipment 2,000

Supervision (2/3 factory, 1/3 office) 1,500

Salespeoples salaries 1,300

Insurance (2/3 factory, 1/3 office) 1,200

Office supplies 750

Advertising 700

Depreciation on office equipment 500

Interest on loan 300

The gross profit margin percentage (rounded) was