Nance Corporation is about to introduce a new product. The following costs would be incurred if 40,000 units are produced and sold each year Multiple Choice O 70.0% Variable production costs Fixed production costs Variable selling and administrative costs Fixed selling and administrative costs Nance Corporation uses the absorption costing approach to cost-plus pricing as described in the text. Assume that the company has not yet determined a markup to use on the new product. The new product would require an investment of $1,200,000. The company requires a 25% rate of return on investment in all new prod markup under the absorption costing approach would be closest to: 50.0% 83.3% Per Unit $10 $5 $2 $3 63.3% Saved Total $ 400,000 $ 200,000 $ 80,000 $ 120,000 Hel

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