Jordan Manufacturing Co. expects to make 31,800 chairs during the 2017 accounting period. The company made 4,800 chairs in January. Materials and labor costs for January were $16,400 and $25,300, respectively. Jordan produced 2,400 chairs in February. Material and labor costs for February were $9,500 and $12,900, respectively. The company paid the $540,600 annual rental fee on its manufacturing facility on January 1, 2017. Required Assuming that Jordan desires to sell its chairs for cost plus 35 percent of cost, what price should be charged for the chairs produced in January and February? (Round intermediate calculations and final answers to 2 decimal places.)

Jordan Manufacturing Co. expects to make 31,800 chairs during the 2017 accounting period. The company made 4,800 chairs in January. Materials and labor costs for January were $16,400 and $25,300, respectively. Jordan produced 2,400 chairs in February. Material and labor costs for February were $9,500 and $12,900, respectively. The company paid the $540,600 annual rental fee on its manufacturing facility on January 1, 2017. Required Assuming that Jordan desires to sell its chairs for cost plus 35 percent of cost, what price should be charged for the chairs produced in January and February? (Round intermediate calculations and final answers to 2 decimal places.)

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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