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Burtis company produces a number of products. In 2002 the selling price of product A, wholesale are normally 10,000 units per year, was calculated as follows:
Unit costDirect material cost 4.00Direct Labour 7.00 Overhead cost 4.80Selling and administrative cost 3.50Full cost 19.30 Profit (10% of full cost) 1.93Selling Price 21.23
In 2003 the company estimates that direct material cost and direct labour cost will increase by 12 percent. It also estimates that overhead cost will increase by a total of $ 6,000 and that selling and administrative cost and sales volume will remain unchanged.
Required: What is the sellingprice for product A in 2003.
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