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Crescent lighting inc produces and sells lighting fixtures

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Crescent Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $60 per unit, of which $32 is product cost and $28 is selling and administrative expenses. In addition, the total cost of $60 is made up of $40 variable cost and $20 fixed cost. The desired profit is $12 per unit.

Determine the markup percentage on product cost.

Reference no: EM13604076

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