The following information is available for a company:
- Sales $1,000,000
- Selling expenses-variable 22,000
- Selling expenses-fixed 33,000
- Administrative expenses-variable 30,000
- Administrative expenses-fixed 10,000
- Cost of goods sold-variable 400,000
- Cost of goods sold-fixed 100,000
A) What is the contribution margin for this company?
B) What is the gross margin for this company?