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Jason Craven (IC) Incorporated is a public company that produces and distributes high quality surround...

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Accounting

Jason Craven (IC) Incorporated is a public company that produces and distributes high quality surround sound speakers. The company's suppliers provide a deep discount if it makes large purchases. As a result, JC's production volume is often greater than its sales volume for a given period. The company uses the cost plus pricing system to determine the appropriate selling price for its speakers.
\table[[2021 production in units,130,000],[2021 sales in units,60,000],[Variable Cost per Unit],[Direct Materials,12.50],[Direct Labor,22.00],[Variable Manufacturing Overhead Costs,9.00],[Variable General and Administrative Costs per unit sold,6.00],[Annual Fixed],[Fixed Manufacturing Overhead Costs,650,000],[Fixed General and Administrative Costs,75,000],[,+],[Mark-up percentage],[Variable Cost Base,40%
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