Turnadot & sons is a small wholesaler of decorative cast iron objects. the following events, related to a special customer order, occur as described below: august 5, 2015: turnadot receives the special order for 200 outdoor planters at a selling price of $50 each, including delivery at a future convenient time and location. the customer, with whom turnadot has had a long-term, trouble-free relationship, pays $3,000 as a deposit and agrees to pay the rest on delivery. turnadot immediately orders $4,000 worth of planters from its supplier and pays a $1,000 deposit for them. august 27, 2015: turnadot pays $3,000 balance due to the supplier upon delivery of the planters to its warehouse. september 5, 2015: the customer calls for delivery of the planters, and pays the balance of $7,000 when they arrive at the customer site. what is the dollar gross margin earned by turnadot on the special order for 200 planters?

Gross Margin = $6,000

Explanation:

Gross margin refers to the Sales price - Direct cost associated with the product.

Here, Sales Value = 200 outdoor planters for $50 each = $50 200 = $10,000

Cost associated with this outdoor planters = Purchase cost as paid to supplier = $4,000

Thus, gross margin = $10,000 - $4,000 = $6,000

Note: Time period and dates provided for such sales and collection of amount or payment to supplier is of no relevance.

Final Answer

Gross Margin = $6,000

a) both were commissioned explorers

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