Product Cost Markup Percentage Green Thumb Garden Tools Inc. produces and sells home and garden...
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Accounting
Product Cost Markup Percentage
Green Thumb Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $230 per unit, of which $160 is product cost and $70 is selling and administrative expenses. In addition, the total cost of $230 is made up of $120 variable cost and $110 fixed cost. The desired profit is $58 per unit.
Determine the markup percentage on product cost. %
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