Question: Professional Exam Prep (PEP) uses a cost-plus model to determine the price it charges students. Specifically, the Company charges cost plus 20% of cost. Fixed

Professional Exam Prep (PEP) uses a cost-plus model to determine the price it charges students. Specifically, the Company charges cost plus 20% of cost. Fixed costs, including facility rental and instructor compensation, amount to $6,100 per month. PEP incurs variable costs for books and supplies that amount to $51 per student. Monthly, enrollment tends to fluctuate. The following data represent the Company's expectations for the first three months of the current year.

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