Glover Inc

question 19

Essay

Glover Inc.manufactures Product B, incurring variable costs of $15.00 per unit and fixed costs of $70,000.Glover desires a profit equal to a 12% rate of return on assets.Assets of $785,000 are devoted to producing Product B, and 100,000 units are expected to be produced and sold.
(a)Compute the markup percentage using the total cost concept.
(b)Compute the selling price of Product B.

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Definitions:

Social Life

The part of an individual's time that they spend participating in community or societal activities, or interacting with family, friends, and acquaintances outside of work or personal solitude.

Labor Process

The methods, practices, and relations involved in the production of goods and services, including the organization of work and labor relations.

Manufacturing

is the process of producing goods on a large scale using machinery, labor, and sophisticated techniques, typically within an industrial setting.

Service Work

Employment that involves providing intangible goods or services to consumers, including roles in healthcare, education, financial services, and customer service.