The Formula for Calculating Gross Margin Is

question 67

Multiple Choice

The formula for calculating gross margin is

• A) net sales minus the cost of the goods sold.
• B) gross sales plus the cost of goods sold.
• C) net sales minus gross sales plus the cost of goods sold.
• D) gross sales minus the cost of goods sold.
• E) net sales plus the cost of goods sold.

---

Definitions:

Price Per Barrel

The cost or price unit for crude oil and other commodities, measured per barrel, a standard unit for volume in the oil industry.

Standard Error of Estimate

The standard error of the estimate is a measure of the accuracy of predictions made with a regression line, quantifying the dispersion of observed values around the predicted values.

API Gravity Degrees

A measure of how heavy or light a petroleum liquid is compared to water, used in the oil industry to characterize crude oil.

T-Table Values

Values found in a table that correspond to the T-Distribution, used for hypothesis testing in statistics, especially when the sample size is small and the population standard deviation is unknown.