Mountain Company Produced 20,000 Blankets in June to Be Sold

question 29

Multiple Choice

Mountain Company produced 20,000 blankets in June to be sold during the holiday season. The manufacturing costs were: Management has decided that the mark-on percentage necessary to cover the product's share of selling and administrative expenses and to earn a satisfactory profit is 30%. The selling price per blanket should be:

• A)$12.00.
• B)$15.60.
• C)$23.60.
• D)$31.20.

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Definitions:

Social Mobility

Shift of individuals, households, or groups across various positions within a societal hierarchy or class system.

Socioeconomic Status

An indicator of a person's or household's place within societal and economic rankings, determined by factors such as income, level of education, and job type.

Life Chances

In sociology, "life chances" refers to the opportunities each individual has to improve their quality of life, based on various socioeconomic factors.

Welfare Reform Act

Legislation aimed at changing the operation of the welfare system, typically to reduce dependency on government assistance by encouraging employment and self-sufficiency.