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Compute the average markup percentage for setting prices

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Reference no: EM131829189

Problem - Nancy Company has budgeted sales of $300,000 with the following budgeted costs:

Direct materials $60,000

Direct manufacturing labor 40,000

Factory overhead

Variable 30,000

Fixed 50,000

Selling and administrative expenses

Variable 20,000

Fixed 30,000

Question 1: Compute the average markup percentage for setting prices as a percentage of the full cost of the product.

Question 2: Compute the average markup percentage for setting prices as a percentage of the variable cost of the product.

Question 3: Compute the average markup percentage for setting prices as a percentage of the variable manufacturing costs.

Reference no: EM131829189

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