Compute the markup percentage using the total cost concept

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Glover Inc. manufactures Product B, incurring variable costs of $15.00 per unit and fixed costs of $70,000. Glover desires a profit equal to a 12% rate of return on assets. Assets of $785,000 are devoted to producing Product B, and 100,000 units are expected to be produced and sold.

Question 1: Compute the markup percentage using the total cost concept.

Question 2: Compute the selling price of Product B. Round your answer to two decimal places.

Reference no: EM132607801

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