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21 August, 00:59

Seaview Company took the following data from their income statement at the end of the current year. Per-unit product cost:$30Gross margin percentage:40%Selling and administrative expenses$30,000Operating income$10,000hat was gross margin for the year?

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  1. 21 August, 04:32
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    Gross margin = $40,000

    Explanation:

    Giving the following information:

    Per-unit product cost: $30

    Gross margin percentage:40%

    Selling and administrative expenses $30,000

    Operating income$10,000

    We know that:

    operating income = gross margin - selling and administrative income

    10000 = gross margin - 30000

    40000 = gross margin
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