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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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.)
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