Homework Help: accouting

Posted by eric on Saturday, April 2, 2011 at 11:07pm.

Nancy Company has budgeted sales of $300,000 with the following budgeted costs:

Direct materials $60,000

Direct manufacturing labor 40,000

Factory overhead

Variable 30,000

Fixed 50,000

Selling and administrative expenses

Variable 20,000

Fixed 30,000

Question 1: Compute the average markup percentage for setting prices as a percentage of the full cost of the product (5 points)

Question 2: Compute the average markup percentage for setting prices as a percentage of the variable cost of the product (5 points)

Question 3: Compute the average markup percentage for setting prices as a percentage of the variable manufacturing costs (5 points)

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