A furniture manufacturer produces and sells 15,000 dining chairs annually. The total production cost is $35 per chair. If the total annual sales revenue is $787,500, what markup percentage is the company using?

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter20: Inventory Management: Economic Order Quantity, Jit, And The Theory Of Constraints
Section: Chapter Questions
Problem 7E: Ottis, Inc., uses 640,000 plastic housing units each year in its production of paper shredders. The...
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A furniture manufacturer products and sells of solve this question

A furniture manufacturer produces and sells 15,000 dining
chairs annually. The total production cost is $35 per chair.
If the total annual sales revenue is $787,500, what markup
percentage is the company using?
Transcribed Image Text:A furniture manufacturer produces and sells 15,000 dining chairs annually. The total production cost is $35 per chair. If the total annual sales revenue is $787,500, what markup percentage is the company using?
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