Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production and sale of 59,700 units of its sole product. Magpie desires a profit equal to a 22% rate of return on invested assets of $588,000. Fixed factory overhead cost $38,100 Fixed selling and administrative costs 7,500 Variable direct materials cost per unit 4.32 Variable direct labor cost per unit 1.88 Variable factory overhead cost per unit 1.13 Variable selling and administrative cost per unit 4.50 The cost per unit for the production and sale of the company's product is

Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production and sale of 59,700 units of its sole product. Magpie desires a profit equal to a 22% rate of return on invested assets of $588,000. Fixed factory overhead cost $38,100 Fixed selling and administrative costs 7,500 Variable direct materials cost per unit 4.32 Variable direct labor cost per unit 1.88 Variable factory overhead cost per unit 1.13 Variable selling and administrative cost per unit 4.50 The cost per unit for the production and sale of the company's product is

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Description: Magpie Corporation uses the total cost concept of product pricing. Below is the cost information for the production and sale of59,700 units of its sole product. Magpie desires a profit equal to a 22% rate of return on invested assets of $588,000.Fix

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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