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During its first year of operations, Silverman Company paid $11,065 for direct materials and $11,200 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,200 while general, selling and administrative expenses totaled $3,300. The company produced 7.550 units and sold 4,700 units at a price of $6.80 a unit. What is the amount of gross margin for the first year? Multiple Choice $11.750 $12.255 $31.960 59,695