Answer the following questions using the information below:
Barry's Hobbies produces and sells a luxury animal pillow for $80.00 per unit. In the first month of operation, 3,000 units were produced and 2,250 units were sold. Actual fixed costs are the same as the amount budgeted for the month. Other information for the month includes:
-What is gross margin when using absorption costing?
Definitions:
Ratio Analysis
A quantitative method used in financial analysis to assess the financial health, performance, and condition of a company by examining its financial statements.
Ethics Audit
A systematic evaluation of an organization's ethics programs and practices, intended to identify potential risks and areas for improvement in ethical conduct.
Ethics Auditing
The systematic examination and evaluation of an organization's ethical policies, practices, and performance to ensure accountability and alignment with ethical standards.
Financial Auditing
The process of examining an organization's financial statements to ensure they are accurate and conform to laws and regulations.
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