From the following data,calculate the amount of gross margin and gross purchases.
Definitions:
Labor Hours
A measure of the amount of work output or effort, typically quantified in hours, provided by employees or workers.
Space Occupied
The area utilized by a business for its operations, including manufacturing, storage, and office space.
Step-down Method
A cost allocation method that sequentially assigns service department costs to other departments, including other service departments, based on specified criteria.
Machine Hours
A measure of production time, representing the total hours that machinery is operated in the manufacturing of a product.
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