Diedrich Corporation makes a product with the following costs: 
The company uses the absorption costing approach to cost-plus pricing described in the text. The pricing calculations are based on budgeted production and sales of 67,000 units per year.The company has invested $420,000 in this product and expects a return on investment of 12%.Direct labor is a variable cost in this company.The markup on absorption cost is closest to:
Definitions:
Exports
Merchandise or services originating from one country and sold to purchasers in another country.
World Bank
A global financial organization that offers loans and grants to the governments of less wealthy nations to support their capital projects.
WTO
World Trade Organization, an international body that deals with the rules of trade between nations, aiming to ensure trade flows smoothly, predictably, and freely.
Dispute Settlement Body
An entity within the World Trade Organization that settles trade disputes between member countries.
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