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Bailey's Pet Food is introducing a new line of peanut butter biscuits to the marketplace. In order to achieve a 40% gross profit margin on

Bailey's Pet Food is introducing a new line of peanut butter biscuits to the marketplace. In order to achieve a 40% gross profit margin on net sales of $450000, the direct materials portion of cost of goods sold (COGS) must come in at ______________ if direct labor $ = $90000 and the overhead rate = $40500.

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