4. A company manufactures a single product for its customers by contracting in advance of production. Thus, the company produces only units that will be sold by the end of each period. For the last period, the following data were available: Sales P40,000 Direct materials Direct labor 6,050 Rent (9/10 factory, 1/10 office) 3,000 Depreciation on factory equipment Supervision (2/3 factory, 1/3 office) Salespeople's salaries Insurance (2/3 factory, 1/3 office) 1,200 Office supplies Advertising 700 Depreciation on office equipment 500 Interest on loan 9,050 2,000 1,500 1,300 750 300 The gross profit margin percentage (rounded) was

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. The gross profit margin percentage (rounded) was ?

4. A company manufactures a single product for its customers by contracting in advance
of production. Thus, the company produces only units that will be sold by the end of each
period. For the last period, the following data were available:
Sales P40,000
Direct materials
Direct labor 6,050
Rent (9/10 factory, 1/10 office) 3,000
Depreciation on factory equipment
Supervision (2/3 factory, 1/3 office)
Salespeople's salaries
Insurance (2/3 factory, 1/3 office) 1,200
Office supplies
Advertising 700
Depreciation on office equipment 500
Interest on loan
The gross profit margin percentage (rounded) was
9,050
2,000
1,500
1,300
750
300
Transcribed Image Text:4. A company manufactures a single product for its customers by contracting in advance of production. Thus, the company produces only units that will be sold by the end of each period. For the last period, the following data were available: Sales P40,000 Direct materials Direct labor 6,050 Rent (9/10 factory, 1/10 office) 3,000 Depreciation on factory equipment Supervision (2/3 factory, 1/3 office) Salespeople's salaries Insurance (2/3 factory, 1/3 office) 1,200 Office supplies Advertising 700 Depreciation on office equipment 500 Interest on loan The gross profit margin percentage (rounded) was 9,050 2,000 1,500 1,300 750 300
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