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Magpie corporation uses the total cost concept of product

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Magpie Corporation uses the total cost concept of product pricing. Below is cost information for the production and sale of 60,000 units of its sole product. Magpie desires a profit equal to a 25% rate of return on invested assets of $700,000.

  • Fixed factory overhead cost $38,700
  • Fixed selling and administrative costs 7,500
  • Variable direct materials cost per unit 4.60
  • Variable direct labor cost per unit 1.88
  • Variable factory overhead cost per unit 1.13
  • Variable selling and administrative cost per unit 4.50

The dollar amount of desired profit from the production and sale of the company's product is?

Reference no: EM13598991

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