Use the information below to answer the following question(s) .Pershing Company budgeted the following costs for the production of its one and only product, blades, for the next fiscal year:
Pershing has a target profit of $150,000.
-What is the target profit percentage as a percentage of total manufacturing costs?
Definitions:
Rent Ceiling
A form of price control where a maximum limit is placed on the rent that can be charged for housing.
Equilibrium Rent
The rental price at which the quantity of properties landlords are willing to lease equals the quantity that tenants are willing to rent.
Quota
A type of trade restriction that limits the quantity of a good that can be imported or exported during a specific time period.
Market
Any structure that allows buyers and sellers to exchange any type of goods, services, and information.
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