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If sales are $5,000,000, cost of goods sold is $4,000,000, salary and wage expense is $300,000, manufacturing equipment depreciation expense is $100,000, and utility expense

If sales are $5,000,000, cost of goods sold is $4,000,000, salary and wage expense is $300,000, manufacturing equipment depreciation expense is $100,000, and utility expense is $50,000, then the gross margin ratio is 11%.

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