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Pinkin Incorporated needs to determine a price for a new phone model. Pinkin desires a 25% markup on the total cost of the phone. Pinkin expects to sell 30,000 phones. Additional information is as follows: Variable Costs per Unit Direct materials Direct labor Overhead General and administrative $ 29 54 34 64 Using the total cost method what price should Pinkin charge? Multiple Choice $200.10 $231.25 $232.50 $212.50 $226.10 Fixed Costs (total) Overhead General and administrative $ 85,000 65,000

Pinkin Incorporated needs to determine a price for a new phone model. Pinkin desires a 25% markup on the total cost of the phone. Pinkin expects to sell 30,000 phones. Additional information is as follows: Variable Costs per Unit Direct materials Direct labor Overhead General and administrative $ 29 54 34 64 Using the total cost method what price should Pinkin charge? Multiple Choice $200.10 $231.25 $232.50 $212.50 $226.10 Fixed Costs (total) Overhead General and administrative $ 85,000 65,000

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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Pinkin Incorporated needs to determine a price for a new phone model. Pinkin desires a 25% markup on the total cost of the phone. Pinkin expects to sell 30,000 phones. Additional information is as follows: Variable Costs per Unit Direct materials Direct labor Overhead $231.25 $232.50 $212.50 $226.10 General and administrative $ 29 54 34 64 Using the total cost method what price should Pinkin charge? Multiple Choice $200.10 Fixed Costs (total) Overhead General and administrative $ 85,000 65,000
Transcribed Image Text:Pinkin Incorporated needs to determine a price for a new phone model. Pinkin desires a 25% markup on the total cost of the phone. Pinkin expects to sell 30,000 phones. Additional information is as follows: Variable Costs per Unit Direct materials Direct labor Overhead $231.25 $232.50 $212.50 $226.10 General and administrative $ 29 54 34 64 Using the total cost method what price should Pinkin charge? Multiple Choice $200.10 Fixed Costs (total) Overhead General and administrative $ 85,000 65,000
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