7. Montana Fishing Equipment Company (MEEC) mufactures a variety of fly fishing equipment including fly fishing rods and tools. The company would like to desdopa unified approach to pricing its product line for next year umg cost plus pricing but does not what cost has should be used Last year, MFEC cand $140,000 of profit from sales of its products and would like to eat 5200,000 next year Last year, the company incured the follomang costs Manufacturing Costs Variable $250,000 Fixed S150,000 Selling and Administrative Costs Variable $100,000 Fixed $200,000 Required A Calculate the markup percentage for each of the following costas Full costs, including all manufacturing and selling and administrative costs b. Cost of goods sold Total variable costs d Variable manufacturing costs B. Explain why the markup percentage calculated in question is forces when using full costs as the base than when using variable manufacturing costs as the base CMFEC's best fly rod (the Trout Catcher model) costs 515010 maacture and includes $90 of sanable manufacturing costs and 560 of food overhead costs Assuming the company was a matka on vamable manufacturing costs (calculated from what is the recommended sales price of the rod D Competitors sell comparable fly rods for $299 Based on this information should FEC price the Trout Catcher model by using a cost plus approach of a different approach! o E 23