Please do not give solution in image format thanku Galla Incorporated needs to determine a price for a new product. Galla desires a 25% markup on the total cost of the product. Galla expects to sell 5,000units. Additional information is as follows:Variable Costs per UnitDirect materialsDirect laborOverheadGeneral and administrativeUsing the total cost method what price should Galla charge?Multiple Choice$106.25$122.00$117.50Fixed Costs (total)$20 Overhead21 General and administrative1925$ 45,00018,000

The following formula used as follows under:- Total price =Total cost + Total Cost x markup…

Answered: Using the total cost method what price…

Business

Accounting

Using the total cost method what price should Galla charge? Multiple Choice O O $106.25 $122.00 $117.50

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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Question

Please do not give solution in image format thanku

Galla Incorporated needs to determine a price for a new product. Galla desires a 25% markup on the total cost of the product. Galla expects to sell 5,000
units. Additional information is as follows:
Variable Costs per Unit
Direct materials
Direct labor
Overhead
General and administrative
Using the total cost method what price should Galla charge?
Multiple Choice
$106.25
$122.00
$117.50
Fixed Costs (total)
$20 Overhead
21 General and administrative
19
25
$ 45,000
18,000

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