ACCOUNTING
Multiple Choice
Timothy Company has invested $2,000,000 in a plant to make vending machines. The target operating income desired from the plant is $300,000 annually. The company plans annual sales of 1,500 vending machines at a selling price of $2,000 each.
What is the markup percentage as a percentage of cost for Timothy Company?
a. 15.0%
b. 17.6%
c. 10.0%
d. 11.1%
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