The Sugarland Co. has just gone public. Under a firm commitment agreement, the company received $32.30 for each of the 4.13 million shares sold. The initial offering price was $34.70 per share, and the stock rose to $41.60 per share in the first few minutes of trading. The company paid $908,000 in legal and other direct costs and $256,000 in indirect costs. What was the flotation cost as a percentage of funds raised? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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Q: Define product cost

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A:

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Q: How is conversion costs per equivalent unit calculated?

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