Jamison Company uses the total cost method of applying the cost-plus approach to product pricing. Jamison produces and sells Product X at a total cost of $1,000 per unit, of which $680 is product cost and $320 is selling and administrative expenses. In addition, the total cost of $1,000 is made up of $570 variable cost and $430 fixed cost. The desired profit is $200 per unit. Required:
Determine the markup percentage on total cost.

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where mr

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Turrubiates corporation makes a product that uses a material with the following standards standard quantity 8.0 liters per unit standard price $2.50 per liter standard cost $20.00 per unit the company budgeted for production of 3,800 units in april, but actual production was 3,900 units. the company used 32,000 liters of direct material to produce this output. the company purchased 20,100 liters of the direct material at $2.6 per liter. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for april is: