Outdoor Charlie's is introducing a new fishing pole, and is trying to decide what to charge for it. The company has already determined that the optimal markup on the unit product cost is 50%. Cost information is provided below.
- Per Unit Total
- Direct Materials $10.00
- Direct Labor $3.00
- Variable Manufacturing Overhead $4.00
- Fixed Manufacturing Overhead $150,000
- Variable Selling and Admin. Expense $1.00
- Fixed Selling and Admin. Expense $90,000
Calculate the selling price based on a planned production of $12,000 units. Round your answer to two decimal places.