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What was gross margin for the period

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Reference no: EM132472810

Use the following information to answer the question:

Point 1. Acquired $30,000 of Capital from owners.

Point 2. Paid $10,000 for all material used in starting and completing 50 products this period.

Point 3. Paid $6,000 for administrative salaries.

Point 4. Paid $8,000 for wages of production workers.

Point 5. Depreciation of office furniture $2,500.

Point 6. Depreciation of manufacturing equipment $3,500.

Point 7. Collected $28,000 in cash for all sales made during the period.

  • There is no beginning or ending inventory.

Question 1: What was Gross Margin for the period?

Option a. $ 2,150

Option b. $ 6,500

Option c. $ 28,000

Option d. $ 30,000

Reference no: EM132472810

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