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During its first year of operation SPC Manufacturing Company produced 9,500 units of inventory and sold 2,550 units. SPC incurred variable product cost of $2.5
During its first year of operation SPC Manufacturing Company produced 9,500 units of inventory and sold 2,550 units. SPC incurred variable product cost of $2.5 per unit and $13,300 of fixed manufacturing overhead costs. The sales price of the products was $9.5 per unit. Determine the amount of gross margin SPC would report if the company uses absorption costing. (Do not round intermediate calculations.)
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