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Compute the target price of the new product under variable-cost-pricing. (Round answer to 2 decimal places, e.g. 10.50.) Target price $ Compute the markup percentage under absorption-costing that will allow Concord Products its desired ROI. (Round answer to 2 decimal places, eg. 10.50%) Markup percentage

Compute the target price of the new product under variable-cost-pricing. (Round answer to 2 decimal places, e.g. 10.50.) Target price $ Compute the markup percentage under absorption-costing that will allow Concord Products its desired ROI. (Round answer to 2 decimal places, eg. 10.50%) Markup percentage

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Concord Products desires to set a target price for its newest product. Information for a budgeted volume of 8,000 units is shown below. Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses Markup Percentage P Target price $ Per Unit $116 Markup percentage $ $ 41 Target price $ 66 $ 15 Concord Products uses cost-plus pricing and management wants a 25% ROI on the new product. Assets of $1,400,000 are committed to production of the new product. Compute the markup percentage under variable costing that will allow Concord Products its desired ROI. (Round answer to 2 decimal places, e.g. 10.50%) % Total $ 50,000 Compute the target price of the new product under variable-cost-pricing. (Round answer to 2 decimal places, eg. 10.50.) $ 70,000 Compute the markup percentage under absorption-costing that will allow Concord Products its desired ROI. (Round answer to 2 decimal places, e.g. 10.50 %) % Compute the target price of the new product under absorption-costing. (Round answer to 2 decimal places, eg. 10.50.)
Transcribed Image Text:Concord Products desires to set a target price for its newest product. Information for a budgeted volume of 8,000 units is shown below. Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses Markup Percentage P Target price $ Per Unit $116 Markup percentage $ $ 41 Target price $ 66 $ 15 Concord Products uses cost-plus pricing and management wants a 25% ROI on the new product. Assets of $1,400,000 are committed to production of the new product. Compute the markup percentage under variable costing that will allow Concord Products its desired ROI. (Round answer to 2 decimal places, e.g. 10.50%) % Total $ 50,000 Compute the target price of the new product under variable-cost-pricing. (Round answer to 2 decimal places, eg. 10.50.) $ 70,000 Compute the markup percentage under absorption-costing that will allow Concord Products its desired ROI. (Round answer to 2 decimal places, e.g. 10.50 %) % Compute the target price of the new product under absorption-costing. (Round answer to 2 decimal places, eg. 10.50.)
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