Product Cost Markup Percentage Crescent Lighting Inc. produces and sells lighting fixtures. An entry light...
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Accounting
Product Cost Markup Percentage
Crescent Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $64 per unit, of which $32 is product cost and $32 is selling and administrative expenses. In addition, the total cost of $64 is made up of $35 variable cost and $29 fixed cost. The desired profit is $3 per unit.
Determine the markup percentage on product cost. Round the answer to nearest whole number. %
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