The Management of Kizer Corporation Would Like to Set the Selling

question 74

Multiple Choice

The management of Kizer Corporation would like to set the selling price on a new product using the absorption costing approach to cost-plus pricing.The company's accounting department has supplied the following estimates for the new product: Management plans to produce and sell 8, 000 units of the new product annually.The new product would require an investment of $1, 580, 000 and has a required return on investment of 10%. The markup percentage on absorption cost is closest to:

• A)25%
• B)10%
• C)15%
• D)41%

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Definitions:

Chart Of Accounts

A list of accounts and the account numbers that identify their location in the ledger.

Special Ledger

A ledger used to record and track transactions of a specific nature, separate from the general ledger.

Accounting Systems

Frameworks used to collect, monitor, and interpret financial information of an organization or individual.

Chart Of Accounts

This is a listing of all the accounts in the general ledger, each account accompanied by a reference number.