CHOICES:

41%

34%

46%

44%

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 Salespeople's salaries 1,300 Insurance (2/3 factory, 1/3 office) 1,200 Office supplies 750 700 Advertising Depreciation on office equipment Interest on loan 500 300 The gross profit margin percentage (rounded) was