Question: Green Thumb Inc produces and sells home and garden tools and
Green Thumb Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $140 per units of which $110 is product cost and $30 is selling and administrative expenses. In addition, the total cost of $140 is made up of $125 variable cost and $15 fixed cost. The desired profit is $14 per unit. Determine the markup percentage on product cost.
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