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UVW Corporation produces handmade candles. The company incurred the following costs during the month of August: direct materials $40,000, direct labor $30,000, manufacturing overhead $20,000,

UVW Corporation produces handmade candles. The company incurred the following costs during the month of August: direct materials $40,000, direct labor $30,000, manufacturing overhead $20,000, and selling and administrative expenses $15,000. The company produced 1,000 candles during the month. Calculate the total cost per candle and the selling price per candle if the company wants to earn a 50% markup on total cost.

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