Nancy Company Has Budgeted Sales of $300,000 with the Following

Essay

Nancy Company has budgeted sales of $300,000 with the following budgeted costs:
$$\begin{array} { l r } \text { Direct materials } & \$ 60,000 \\\text { Direct manufacturing labor } & 40,000 \\\text { Factory overhead } & \\\quad \text { Variable } & 30,000 \\\quad \text { Fixed } & 50,000 \\\text { Selling and ad ministrative expenses } & \\\quad \text { Variable } & 20,000 \\\quad \text { Fixed } & 30,000\end{array}$$ Compute the average markup percentage for setting prices as a percentage of:
a.The full cost of the product
b.The variable cost of the product
c.Variable manufacturing costs
d.Total manufacturing costs