Green Hornet Corporation is contemplating the introduction of a new product.The company has gathered the following information concerning the product: 
The company uses the absorption costing approach to cost-plus pricing as described in the text.
Required:
a.Compute the markup on absorption cost.
b.Compute the selling price.
Definitions:
Extreme Scores
Values in a set of data that are significantly higher or lower than the majority of the other data points.
Individual Earnings
The amount of money earned by an individual from work or investments.
Mean
The arithmetic average of a set of values, calculated by adding all the numbers and dividing by the count of values.
Central Tendency
A statistical measure that identifies a single value as representative of an entire dataset, commonly reflected through the mean, median, or mode.
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