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Fanning Manufacturing Company expects to make 30,500 chairs during the Year 1 accounting period. The...

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Accounting

Fanning Manufacturing Company expects to make 30,500 chairs during the Year 1 accounting period. The company made 4,300
chairs in January. Materials and labor costs for January were $17,900 and $24,200, respectively. Fanning produced 2,400 chairs in
February. Material and labor costs for February were $9,300 and $12,800, respectively. The company paid the $244,000 annual rental
fee on its manufacturing facility on January 1, Year 1. The rental fee is allocated based on the total estimated number of units to be
produced during the year.
Required
Assuming that Fanning desires to sell its chairs for cost plus 40 percent of cost, what price should be charged for the chairs produced
in January and February?
Note: Round intermediate calculations and final answers to 2 decimal places.
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