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Ladle Corporation uses the absorption costing approach to cost-plus pricing described in the text to...

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Ladle Corporation uses the absorption costing approach to cost-plus pricing described in the text to set prices for its products. Based on budgeted sales of 98,000 units next year, the unit product cost of a particular product is $47.00. The company's selling and administrative expenses for this product are budgeted to be $1,915,000 in total for the year. The company has invested $279,000 in this product and expects a return on investment of 15%. The markup on absorption cost for this product would be closest to: Multiple Choice 15.0% O O 42.5% O 41.6% 56.5% O

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