What is a Product Gross Margin?
The Gross Margin is:
(Product Price - Standard Cost) ÷ Product Price = Gross Margin %
Example: Daily Shampoo Product Price is $20.00, the Standard Cost is $10.00
($20.00 - $10.00) / $20.00 = 50% Gross Margin
Note: Gross Margin cannot exceed 100%