The markup percentage for setting prices as a percentage

Reference no: EM13242596

Answer the following questions using the information below: Oscar Corporation budgeted the following costs for the production of its one and only product for the next fiscal year:
direct materials 1,125,000
direct labor 780,000
manufacturing overhead
variable 840,000
fixed 645,000
selling/administrative
variable 360,000
fixed 480,000
total 4,230,000

Oscar has an annual target operating income of $900,000.
The markup percentage for setting prices as a percentage of total manufacturing costs is:
A) 51%

B) 125%

C) 185%

D) 245%

The markup percentage for setting prices as a percentage of variable manufacturing costs is:
A) 54%

B) 87%

C) 169%

D) 122%

The markup percentage for setting prices as a percentage of the variable cost of the product is:
A) 328%

B) 36%

C) 228%

D) 65%

Reference no: EM13242596

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