CoursHeroTranscribedText: Refererces Currington Company wants to use absorption cost-plus pricing to set the selling price...
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CoursHeroTranscribedText: Refererces Currington Company wants to use absorption cost-plus pricing to set the selling price on a newly remodeled product. The company plans to invest $02,000 in operating assets to produce and sell 12,000 units. Its required return on investment (ROI) in its operating assets is 16%. The accounting department has provided cost estimates for the new product as follows: Pen Unit Total Direct materials $ 5.16 Direct labor 5 4.19 Variable manufacturing overhead 3 2.19 Fixed manuracturing overhead $ ?9,263 Variable selling and administrative expenses $ 2.16 Fixed selling and administrative expenses $ 22,463 Required: 1. What is the unit product cost for the remodeled product? [Round intermediate calculations and final answer to 2 decimal places.) 2. What is the markup percentage on absorption cost for the remodeled product? [Round intermediate calculations to 2 decimal places.) 3. What selling price would the company establish for its remodeled product using a marl
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