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Rica Company is a price-taker and uses a target-pricing approach. Refer to the following information: Production volume 601,000 units per year Market price $32 per

Rica Company is a price-taker and uses a target-pricing approach. Refer to the following information:

Production volume	601,000	units per year
Market price	$32	per unit
Desired operating profit	16%	of total assets
Total assets	$13,700,000

What is the target full product cost in total for the year? Assume all units produced are sold.

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