What is the amount of gross margin for the first year

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Reference no: EM131931570

Problem

During ns first year of operations. Silverman Company paid $14,000 for direct materials and $19 000 for production workers' wages. Lease payments and utilities on the production facilities amounted to $17,000 while general, selling and administrative expenses rotated $8000. The company produced 5.000 units and sold 3.000 units at a price of $15.00 a unit. What is the amount of gross margin for the first year?

Reference no: EM131931570

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