Creative Crafts, Inc. has the following information for the current fiscal year: The gross margin for Creative Crafts, Inc. is
A) $171,000
B) $187,000
C) $215,000
D) $267,000

Name: Creative Crafts, Inc. has the following information for the current fiscal year: The gross margin for Creative Crafts, Inc. is A) $171,000 B) $187,000 C) $215,000 D) $267,000
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Question

Creative Crafts, Inc. has the following information for the current fiscal year:  The gross margin for Creative Crafts, Inc. is
A) $171,000 
B) $187,000 
C) $215,000 
D) $267,000

Quizplus · Accepted Answer

Gross Margin = Sales - COGS-Variable - COGS- Fixed = $400,000 - $133,000 - $52,000 = $215,000.