Julie is in a perfect competition market, where she is a price$-$taker, which is why she is stuck

selling her cakes for $$800$ each. Using the data from #$4,$ assuming she is selling $50$ cakes per

month, she wants to know how much her total product costs should be if she wants to make a

profit of $20\%$ of the selling price. Are her current product costs allowing her to meet the desired

profit that she has set for herself?Requirment $5$:

Calulate the target full product cost for a wedding cake to see if Julie is current meeting the target cost.