Question

if price is calculated based on total variable manufacturing cost plus a 30% markup, the selling price (rounded to the nearest cent) is ______

Answer 1

To calculate the selling price, you need to calculate the total variable manufacturing cost and add a 30% markup. Then, round the result to the nearest cent.

Step-by-step explanation:

To calculate the selling price based on the total variable manufacturing cost plus a 30% markup, you need to follow these steps:

1. Calculate the total variable manufacturing cost.
2. Add the 30% markup to the total variable manufacturing cost.
3. Round the result to the nearest cent.

Here's an example:

If the total variable manufacturing cost is $50, the calculation would be:

Total Variable Manufacturing Cost = $50

30% Markup = 30% x $50 = $15

Selling Price = Total Variable Manufacturing Cost + Markup = $50 + $15 = $65

So, the selling price (rounded to the nearest cent) is $65.