Eden Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a
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Eden Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $150 per unit, of which $100 is product cost and $50 is selling and administrative expenses. In addition, the total cost of $150 is made up of $125 variable cost and $25 fixed cost. The desired profit is $30 per unit. Determine the markup percentage on variable cost.
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