Pharoah Corporation produces industrial robots for high-precision manufacturing. The following information is given for Pharoah Corporation: Direct materials Direct labour Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses (a) Per Unit $390 290 Markup percentage 80 Target selling price 50 Total The company has a desired ROI of 30%. It has invested assets of $51,150,000. It expects to produce 3,100 units each year. $1,984,000 341,000 Calculate the markup percentage and target selling price using absorption-cost pricing. (Round markup percentage to 3 decimal places, e.g. 15.250% and target selling price to O decimal places, e.g. 5,250.)

Pharoah Corporation produces industrial robots for high-precision manufacturing. The following information is given for Pharoah Corporation: Direct materials Direct labour Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative expenses Fixed selling and administrative expenses (a) Per Unit $390 290 Markup percentage 80 Target selling price 50 Total The company has a desired ROI of 30%. It has invested assets of $51,150,000. It expects to produce 3,100 units each year. $1,984,000 341,000 Calculate the markup percentage and target selling price using absorption-cost pricing. (Round markup percentage to 3 decimal places, e.g. 15.250% and target selling price to O decimal places, e.g. 5,250.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2MC: If a company has three lots of products for sale, purchase 1 (earliest) for $17, purchase 2 (middle)...

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