Lodrobe Company manufactures a single product: shirts. Lodrobe's shirts have a unique design that is not replicated by any other shirt manufacturer. The company was formed at the beginning of last year with an initial investment of $831,000. Lodrobe requires a 30% annual rate of return on the investment. In total, 8,400 shirts were produced and sold last year. For the upcoming year, the production and sales volumes are not expected to change from last year. The following costs are budgeted for the upcoming year: Per Unit Total (8,400 units) Direct Materials $72 Direct Labor $67 Variable Manufacturing Overhead $38 Fixed Manufacturing Overhead $67,200 General and Administrative Expenses $372,000

Determine the budgeted full cost of a shirt for the upcoming year. Full Cost

Calculate the markup percentage. Markup Percentage

Determine the selling price of a shirt for the upcoming year. Selling Price