Crescent Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $80
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Crescent Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $80 per unit, of which $36 is product cost and $44 is selling and administrative expenses. In addition, the total cost of $80 is made up of $30 variable cost and $50 fixed cost. The desired profit is $10 per unit. Determine the markup percentage on product cost.
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Related Book For 
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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