Question: Green Thumb Garden Tools Inc produces and sells home and
Green Thumb Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $ 230 per unit, of which $ 160 is product cost and $ 70 is selling and administrative expenses. In addition, the total cost of $ 230 is made up of $ 120 variable cost and $ 110 fixed cost. The desired profit is $ 58 per unit. Determine the markup percentage on product cost.
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