Final answer:
The final selling price of Job XYZ will be $840, having calculated a 40% mark-up on the manufacturing cost of $600.
Step-by-step explanation:
To calculate the final selling price for Job XYZ, which has a total manufacturing cost of $600 and a mark-up percentage of 40%, a two-step process is employed. The mark-up amount is first determined by taking 40% of the manufacturing cost.
The mark-up amount is calculated by multiplying the manufacturing cost ($600) by the mark-up percentage (40%). Mathematically, this is expressed as 0.4 * $600, resulting in a mark-up amount of $240.
Subsequently, the mark-up amount is added to the manufacturing cost to obtain the final selling price. In this case, $600 (manufacturing cost) + $240 (mark-up) equals $840 as the final selling price for Job XYZ.
Therefore, Job XYZ will be sold for $840, ensuring that the mark-up of 40% is applied to the manufacturing cost, reflecting the additional amount added to cover expenses and contribute to the profit margin. This calculation provides clarity on how the mark-up percentage influences the final selling price of a product or service.