The Gross Margin for Cushing Company for the First Quarter

question 73

Multiple Choice

The gross margin for Cushing Company for the first quarter of last year was $325,000 when sales were $700,000. The beginning inventory of finished goods was $60,000 and the ending inventory of finished goods was $85,000. The cost of goods manufactured for the first quarter would have been:

• A)$350,000.
• B)$485,000.
• C)$375,000.
• D)$400,000.

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Definitions:

Milestone

A significant event or point in a project, program, or portfolio that marks a major achievement or a phase of progress.

Resource Calendar

A calendar that documents the availability, working hours, holidays, and assignments of resources necessary for project completion.

Working Days

Days designated for work, typically excluding weekends and public holidays.

Two-week

A period of 14 consecutive days.