Summit Products, Incorporated is interested in producing and selling an improved widget. Market research indicates...
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Summit Products, Incorporated is interested in producing and selling an improved widget. Market research indicates that customers would be willing to pay $108 for such a widget and that 66,000 units could be sold each year at this price. The current cost to produce the widget is estimated to be $62. If Summit Products requires a 25% return on sales to undertake production, what is the target cost for the new widget? Multiple Choice $83.00 $81.00 $92.50 $27.00
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