Final answer:
To calculate the selling price for Moody's Job 400 with a 120% markup, the total manufacturing cost per unit must be known. Once we have this cost (denoted as X), the selling price is computed as X + (X × 1.20), which is the same as 220% of the manufacturing cost per unit.
Step-by-step explanation:
If Moody uses a markup percentage of 120% on its total manufacturing cost for job 400, we first need to establish the total manufacturing cost. Let's assume that we have this information (although it is not provided in the question). Once the cost is identified, the selling price can be determined using the formula:
Selling Price = Total Manufacturing Cost + (Total Manufacturing Cost × Markup Percentage)
To calculate the selling price per unit, if the manufacturing cost per unit is X, we apply the formula as follows:
Selling Price = X + (X × 1.20)
By carrying out the calculation, we find that the selling price per unit would be 220% of the manufacturing cost per unit (100% + 120% markup).