Hoops Incorporated sells basketballs. Each basketball requires direct materials of $15.00, direct labor of $8.50,...
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Hoops Incorporated sells basketballs. Each basketball requires direct materials of $15.00, direct labor of $8.50, variable overhead of $9.50, and variable selling, general, and administrative costs of $7.00. The company has fixed overhead of $51,500 and fixed selling, general, and administrative costs of $58,500. The company has a target profit of $50,000. It expects to produce and sell 20,000 basketballs. The selling price per unit under the variable cost method is:
$32.00.
$40.00.
$48.00.
$56.00.
$60.00.
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