Answer the following statement(s) true (T) or false (F)
1. Gross margin is what is left after the cost of goods is subtracted from net sales.
2. Retail markup includes the cost of goods.
3. Precosting is an estimate of what it costs to produce one garment.
4. The production cost is finalized when the tech pack and cost sheet information is confirmed.
5. Production costing is the actual cost of a finished garment.
1. True
2. False
3. True
4. True
5. False
You might also like to view...
Ethical issues arise when the interests of the stakeholders are in conflict and when one or more of the stakeholders are lacking in their responsibilities
Indicate whether the statement is true or false
Deming's writings on quality tend to focus on the customer and on fitness for use, unlike Juran's work that is oriented toward meeting specifications
Indicate whether the statement is true or false