Business, 26.08.2021 19:30 marvezunderwood

Jay Company uses the total cost concept of applying the cost-plus approach to product pricing. The costs and expenses of producing and selling 38,400 units of Product E are as follows: Variable costs:
Direct materials $4.70
Direct labor 2.50
Factory overhead 1.90
Selling and administrative expenses 2.60
Total $11.70

Fixed costs:
Factory overhead $80,000
Selling and administrative expenses 14,000

Jay desires a profit equal to a 14% rate of return on invested assets of $640,000.

a. Determine the amount of desired profit from the production and sale of Product E: $
b. Determine the total costs and the cost amount per unit for the production and sale of 38,400 units of Product E: Cost amount per unit: Round to two decimal places. Total costs: $ $
c. Determine the markup percentage for Product E: Round to one decimal place.%
d. Determine the selling price of Product E: Round to two decimal places. $

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Jay Company uses the total cost concept of applying the cost-plus approach to product pricing. The c...

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