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The chief engineer at Marx Tech has proposed production of a portable electronic storage device to be sold at a 20 percent markup above
The chief engineer at Marx Tech has proposed production of a portable electronic storage device to be sold at a 20 percent markup above its full cost. Management estimates that the fixed costs per year will be $229,500, and the variable cost of the storage device will be $17 per unit. Assuming production and sales of 51,000 units, what is the full cost of a storage device, and what is the price with a 20 percent markup? (Round answers to 2 decimal places, e.g. 15.25.) Full cost of a storage device $ Price with 20 percent markup $
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