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Compute the average markup percentage for setting prices as

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Reference no: EM13601640

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

a) Compute the average markup percentage for setting prices as a percentage of the full cost of the product.
b) Compute the average markup percentage for setting prices as a percentage of the variable cost of the product.
c) Compute the average markup percentage for setting prices as a percentage of the variable manufacturing costs.

Reference no: EM13601640

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