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Seaview Company took the following data from their income statement at the end of the current year. Per-unit product cost: $30 Gross margin percentage: 40%
Seaview Company took the following data from their income statement at the end of the current year.
| Per-unit product cost: | $30 |
| Gross margin percentage: | 40% |
| Selling and administrative expenses | $30,000 |
| Operating income | $10,000 |
Refer to Figure 2-6. What was gross margin for the year?
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Management Accounting For Business
Authors: Colin Drury, Mike Tayles
8th Edition
1473778808, 978-1473778801
