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Olegator [25]
2 years ago
12

To determine a product selling price based on the total cost method, management should include: Multiple Choice Total product an

d selling, general, and administrative costs plus a markup. Total selling, general, and administrative costs plus a markup. Total product costs plus a markup. Only a markup. Total product and selling, general, and administrative costs only.
Business
1 answer:
Free_Kalibri [48]2 years ago
4 0

If one wants to determine the selling price of a product using the total cost method, the management should use Total product costs plus a markup.

<h3>What is total cost method?</h3>

When using the total cost method, the company takes into account the full cost of producing the good in question. This includes total product cost only.

A markup is then added to the total cost to find a suitable selling price that allows for a projected level of profit.

Find out more on the total cost method at brainly.com/question/6480601.

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Correct Answer, D all of the above. Each answer is a positive source of communication for telecommuters.


7 0
3 years ago
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In January, Knox Company requisitions raw materials for production as follows: Job 1 $936, Job 2 $1,690, Job 3 $767, and general
oksano4ka [1.4K]

Answer:

Materials used in production go to Work in Process so;

= 936 + 1,690 + 767

= $3,393

The materials used in the general factory will go to Manufacturing Overhead.

Date                                                                         Debit                   Credit

Jan 31   Work in Process                                     $3,393

             Manufacturing Overhead                      $   667

             Raw Materials Inventory                                                    $4,060

5 0
3 years ago
In 2016, Raleigh sold 1,000 units at $500 each, and earned net income of $40,000. Variable expenses were $300 per unit, and fixe
labwork [276]

Answer:

1,118 units.

Explanation:

The computation of number of units to be sold is shown below:-

For the Year 2016

Number of Units Sold = 1,000 units

Unit selling price = $500 per unit

Total Sales = $500 × 1,000 = $500,000

Variable Costs = $300 × 1,000

= $300,000

Contribution = $500,000 - $300,000

= $200,000

Fixed Costs = $160,000

Net Income = $200,000 - $160,000

= $40,000

For the Year 2017

Unit Selling Price = $500 per unit

Unit Variable Cost = $300 × 1.10

= $330 per unit

Contribution per unit = $500 - $330 = $170 per unit

Fixed Cost = $160,000 - $10,000 = $150,000

Now, to maintain the same income of $ 40,000 the Company have a total contribution

$150,000 + $40,000

= $190,000

Number of units to be sold = Total contribution ÷ Contribution per unit

= $190,000 ÷ $170

= 1,117.64

or

1,118 units.

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3 years ago
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In 1931, the U.S. President was paid a salary of $75,000. Government statistics show a consumer price index of 15.2 for 1931 and
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Answer: $1,021,382

Explanation:

The Consumer Price index (CPI) is an economic measure that enables us calculate inflation. It checks for a price changes in a group or basket of goods and then averages these price changes to find out how much they may have changed overtime.

A higher CPI means prices have increased.

CPI can then be used to calculate the potential values of goods in different years using another year as a base. This means that prices of goods in one year can be written in terms of prices in another year.

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The 2007 equivalent of a 1931 salary will therefore be,

= 75,000 * ( 207/15.2)

= $1,021,381.57

= $1,021,382

8 0
2 years ago
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