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Panfilo Manufacturing has budgeted sales of P 300,000 with the following budgeted costs: Direct materialsP 60,000 Direct manufacturing labor 40,000 Factory overhead Variable30,000 Fixed50,000 Selling
Panfilo Manufacturing has budgeted sales of P 300,000 with the following budgeted costs:
Direct materialsP 60,000
Direct manufacturing labor 40,000
Factory overhead
Variable30,000
Fixed50,000
Selling and administrative expenses
Variable20,000
Fixed30,000
Compute the average markup percentage for setting prices as a percentage of:
a.The full cost of the product
b.The variable cost of the product
c.Variable manufacturing costs
d.Total manufacturing costs
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