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ABC Company manufactures bicycles. During the month of July, the company incurred the following costs: direct materials $150,000, direct labor $100,000, manufacturing overhead $80,000, and
ABC Company manufactures bicycles. During the month of July, the company incurred the following costs: direct materials $150,000, direct labor $100,000, manufacturing overhead $80,000, and selling and administrative expenses $50,000. The company produced 5,000 bicycles during the month. Calculate the total cost per bicycle and the selling price per bicycle if the company wants to earn a 30% markup on total cost.
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