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Gross margin is calculated as sales minus cost of goods sold. All prices and costs have remained the same for the last 2 years and are expected to do so in Year 3. Sales in Year 3 are lower than sales in Year 2. Since prices and costs have remained the same and sales have equaled production each year, the gross margin for Year 3 cannot be greater than the gross margin for Year 2.
Gross margin is calculated as sales minus cost of goods sold. Since all of the costs have remained the same over the period and there has been no change in inventory for any period (since sales have been equal to production each year), the gross margin for Year 3 will be equal to the gross margin from the year in which sales were the same level, and this is Year 1. Because this is a new company and for every year since its beginning, sales have been equal to production, inventory at year end for each year has been zero. Because of this, we do not need to know whether the company closes out under- and over-applied overhead to cost of goods sold only, or whether the company prorates it between cost of goods sold and inventory. Since inventory is zero, all under- or over-applied overhead will have been closed to cost of goods sold only. And for each year since its beginning, the company has had under-applied fixed overhead, because actual production has been lower than planned production. Unless fixed overhead has been very different in Year 3 than it was in Year 1, the gross margin for the two years should be substantially the same.
Gross margin is calculated as sales minus cost of goods sold. All prices and costs have remained the same for the last 2 years and are expected to do so in Year 3. Sales in Year 3 are expected to be the same as sales in Year 1. Since prices and costs have remained the same and sales have equaled production each year, gross margin for Year 3 cannot be greater than the gross margin for Year 1.
Gross margin is calculated as sales minus cost of goods sold. All prices and costs have remained the same for the last 2 years and are expected to do so in Year 3. Sales in Year 3 are lower than in Year 2. Since prices and costs have remained the same and sales have equaled production each year, the gross margin for Year 3 cannot be equal to the gross margin for Year 2.