Question
Product Cost Markup Percentage Green Thumb Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of
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Product Cost Markup Percentage
Green Thumb Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $230 per unit, of which $160 is product cost and $70 is selling and administrative expenses. In addition, the total cost of $230 is made up of $120 variable cost and $110 fixed cost. The desired profit is $58 per unit.
Determine the markup percentage on product cost. %
Feedback
Divide the desired profit plus the selling and administrative expense by the total product cost.
Learning Objective 2.
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Product Cost Markup Percentage
Green Thumb Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $230 per unit, of which $160 is product cost and $70 is selling and administrative expenses. In addition, the total cost of $230 is made up of $120 variable cost and $110 fixed cost. The desired profit is $58 per unit.
Determine the markup percentage on product cost. %
Feedback
Divide the desired profit plus the selling and administrative expense by the total product cost.
Learning Objective 2.
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Advanced Financial Accounting
Authors: Theodore E. Christensen, David M. Cottrell, Cassy Budd
13th International Edition
1265042616, 9781265042615
