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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