Using the cost approach method of price determination

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Reference no: EM132155962

ABC Manufacturing is attempting to set the product price using the Cost Approach method of price determination. The Direct Material Cost is $5,000 and the Direct Labor Cost is $8,000. The Factor Overhead is 130% of the Direct Labor Cost. The General Administrative and Selling Cost is 15% of the Manufacturing Cost and the Profit is 12% of the Total Cost. What is the selling price that ABC should set for this product? Show your work.

Reference no: EM132155962

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