(Answered) Question - the anderson moncadq company produces one unit

Accounting

Question - The Anderson moncadq company produces one unit of one product. The company has budgeted the following cost for this product. The company has a desired income of $60000.

Desired material $30000

Direct labor $20000

Variable indirect production costs $20000

Fixed indirect production cost $7500

Fixed selling and administrative costs $12500

Total cost $120000

1. Determine the target price for this product.

2. What is the target mark up percentage for setting prices as a percentage of total production costs?

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