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An executive from a large merchandising firm has called your vice president for production to get a price quote for an additional 100 units of given product. The vice president has asked you to prepare a cost estimate, The number of hours required to produce a unit is 5, The average labor rate is $12 per hour, The material cost $14 per unit, Overhead for an additional 100 units is estimated at 50% of the direct labor cost, if the company wants to have a 30% profit margin, What should be the unit price to quote?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91231855

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