The following information was summarized from the records of the Acme Company for the first quarter of the year: Sales $800,000 / Fixed administration expenses $120,000 / Fixed cost of goods sold $200,000 Fixed selling expense $75,000 / Variable administration expenses $35,000 / Variable cost of goods sold $320,000 and variable selling expenses $270,000.

What is the company's gross margin for the quarter?

What is the company's contribution margin for the quarter?