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LMN Corporation manufactures electronic gadgets. During the month of September, the company incurred the following costs: direct materials $300,000, direct labor $200,000, manufacturing overhead $150,000,
LMN Corporation manufactures electronic gadgets. During the month of September, the company incurred the following costs: direct materials $300,000, direct labor $200,000, manufacturing overhead $150,000, and selling and administrative expenses $100,000. The company produced 10,000 gadgets during the month. Calculate the total cost per gadget and the selling price per gadget if the company wants to earn a 25% markup on total cost.
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