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LMN Corporation produces luxury scarves. During the month of June, the company incurred the following costs: direct materials $50,000, direct labor $30,000, manufacturing overhead $20,000,
LMN Corporation produces luxury scarves. During the month of June, the company incurred the following costs: direct materials $50,000, direct labor $30,000, manufacturing overhead $20,000, and selling and administrative expenses $15,000. The company produced 1,000 scarves during the month. Calculate the total cost per scarf and the selling price per scarf if the company wants to earn a 60% markup on total cost.
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