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OPQ Corporation produces premium olive oils. The company incurred the following costs during the month of October: direct materials $70,000, direct labor $50,000, manufacturing overhead
OPQ Corporation produces premium olive oils. The company incurred the following costs during the month of October: direct materials $70,000, direct labor $50,000, manufacturing overhead $40,000, and selling and administrative expenses $30,000. The company produced 1,200 bottles of olive oil during the month. Calculate the total cost per bottle and the selling price per bottle if the company wants to earn a 45% markup on total cost.
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