Cost - Based Pricing Decision Jeremy Costa, owner of Costa Cabinets Inc., is preparing a bid on
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CostBased Pricing Decision
Jeremy Costa, owner of Costa Cabinets Inc., is preparing a bid on a job that requires $ of direct materials, $ of direct labor,
and $ of overhead. Jeremy normally applies a standard markup based on cost of goods sold to arrive at an initial bid price. He then
adjusts the price as necessary in light of other factors eg competitive pressure Last year's income statement is as follows:
Required:
Calculate the markup that Jeremy will use. Round your answer to one decimal place.
What is Jeremy's initial bid price? Round your answer to the nearest dollar.
$
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