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What is the amount of gross margin for the first year

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Reference no: EM132667661

During its first year of operations, Silverman Company paid $11,440 for direct materials and $9900 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8900 while general, selling, and administrative expenses totaled $4400. The company produced 5600 units and sold 3400 units at a price of $7.90 a unit.

Problem 1: What is the amount of gross margin for the first year?

Option 1: $ 8500

Option 2: $26,860

Option 3: $5520

Option 4: $11,880

Reference no: EM132667661

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