Nature Wood Inc. makes wood tables for commercial use. The marketing department has identified a market for
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Nature Wood Inc. makes wood tables for commercial use. The marketing department has identified a market for a specific table that the company does not currently produce, and it expects that each table could be sold for $1,000. Management requires a profit of 30 percent of the selling price.
Required
Determine the highest cost (target cost) management would be willing to accept to produce this product.
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