Question: Grinnell Lake Gift Shop has decided to price the candles

Grinnell Lake Gift Shop has decided to price the candles that it sells at cost plus 80 percent. One type of carved bear-shaped candle costs $ 12, and huckleberry-scented votive candles cost $ 1.10 each.
Required:
1. What price will Grinnell Lake Gift Shop charge for the carved bear candle?
2. What price will Grinnell Lake Gift Shop charge for each scented votive candle?
3. Briefly explain two specific challenges that the financial manager of Grinnell Lake Gift Shop might encounter in employing this cost-plus pricing approach.

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  • CreatedSeptember 22, 2015
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