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What price should perfect-slice be sold to achieve corporate

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Reference no: EM132511010

Smith Cheese Company introducted a new product, the Perfect-Slice Cheese Knife. Despite its advanced design, it falls short of the corporate profit model of 30% gross profit of the selling price. Before all the facts were know, the price was set at $10. The cost at launch was $12.

As the Management Accountant on this project, you have been asked to calculate the following:

Required:

Question a. What is the Target Cost the company should achieve given the market price of $10.

Question b. As an alternative, with a cost of $12, at what price should Perfect-Slice be sold to achieve corporate profit model.

Reference no: EM132511010

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