Use This Information for Swan Company to Answer the Questions

question 84

Multiple Choice

Use this information for Swan Company to answer the questions that follow.

Swan Company produces a product at a total cost of $43 per unit. Of this amount, $8 per unit is selling and administrative costs. The total variable cost is $30 per unit, and the desired profit is $20 per unit.
-Determine the markup percentage on total cost.

• A) 100%
• B) 110%
• C) 80%
• D) 46.5%

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Definitions:

Personal Liability

The legal responsibility of an individual to compensate for harm or damages their actions have caused, potentially affecting their personal assets.

LLP

Limited Liability Partnership, a legal entity where some or all partners have limited liabilities, protecting personal assets from business debts and liabilities.

State Statute

A written law enacted by a state legislature or other governing authority.

Limited Partnership

A form of business organization that has one or more general partners who manage the business and have unlimited liability for the obligations of the business and one or more limited partners who do not manage and have limited liability.