Can anyone help to solve part (c) and show the work and make some clarification on my comment and check if my other answers are correct.

Thank you.

Redding Corp. had the following inventory amounts: 9/30/2020 12/31/2020 Raw materials ??? 21384 WIP 42693 41366 Finished goods 27389 24305 During Q4 2020, the company purchased $87205 of raw materials and transferred $86993 of materials to work in process. Redding uses full absorption costing. (a) How much raw materials did Redding have at 9/30/2020? Ans: Beginning Raw Materials = 21384 + 86993 - 87205 = 21136 During Q4 2020, Redding incurred the following costs: direct labor $28585, variable manufacturing overhead $17244, variable non-manufacturing overhead $11672, fixed manufacturing overhead $12598, and fixed non-manufacturing overhead $10520. (b) How much is the cost of goods sold for Q4 2020? Ans: Cost of Good Manufactured = 42693 + 86993 +28585 + 17244 + 12598 - 41366 = 146747 Cost of Gold Sold: 27389 + 146747 -24305 = 149831 Notwithstanding the answer you got to the last question, assume the COGS was actually $128990. Redding earned revenue of $237053 in Q4 2020. (c) What was Redding's profit margin in Q4? Ans: I am not sure about this question.... I knew that "Profit Margin = Revenue - Total Cost", but I am not sure what should be included in Total Cost. In addition, I saw someone use "Revenue - COGS - variable non-manufacturing overhead - fixed non-manufacturing overhead, I don't know if this is correct or not..... (d) Using the numbers provided in the immediately prior question, calculate the gross margin percentage. (Round to the tenth of a percent and write as the amount of percent.) Ans: (237053 - 128990)/237053 x 100 = 45.6