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Determine gross margin if operating income of sales

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Reference no: EM132840592

The following cost and revenue information has been accumulated by Saylor Company for the most recent fiscal year:

Operating income $250,000

Total selling and administrative expense $8 per unit

Cost of goods sold $550,000

Problem 1: Determine gross margin if operating income is 20% of sales.

Group of answer choices

Option 1: $800,000

Option 2: $700,000

Option 3: $1,250,000

Option 4: $2,750,000

Reference no: EM132840592

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