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A manufacturer is developing a new board game geared towards children. To be competitive with...

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Accounting

A manufacturer is developing a new board game geared towards children. To be competitive with other board games, the company has set a target price of $20 for the game.

The company likes to maintain a target profit equal to 40 percent of the product's cost.

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  1. Calculate the target cost of the product (to two decimal places).
  2. What is the targeted contribution margin on this product (to two decimal places)?

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