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Peter Company has predicted the following costs for this year for 50,000 units: Manufacturing Selling...

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Accounting

Peter Company has predicted the following costs for this year for 50,000 units:

Manufacturing Selling and Administrative

Variable $200,000 $50,000

Fixed 300,000 150,000

Total $500,000 $200,000

What is the initial selling price needed to obtain a target profit of $75,000 using the manufacturing cost markup method?

A. $15.50

B. $16.00

C. $20.00

D. $14.00

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