(Answered)-Greenwave Products Co. incurred the following costs in 2006, the - (2025 Updated Original AI-Free Solution

Question

1. Greenwave Products Co. incurred the following costs in 2006, the company?s first year of operations: $28,000 for direct materials used in manufacturing; $42,000 for manufacturing equipment to be straight-line depreciated over five years with a $2,000 salvage value; $16,000 for office furniture to be straight-line depreciated over four years with no salvage value; $14,000 for utilities associated with the manufacturing facility; $4,000 for office utilities; $38,000 for the company president?s salary; $24,000 for the manufacturing manager?s salary; $48,000 for production workers? wages; and $22,000 for commissions paid to salespeople. If the company produced 7,625 units during the year and sold 6,400 units for $22 each, what would be the company?s gross margin for 2006?