Sid's Skins makes a variety of covers for electronic organizers and portable music players. The company's...
Sid's Skins makes a variety of covers for electronic organizers and portable music players. The company's designers have discovered a market for a new clear plastic covering with college logos for a popular music player. Market research indicates that a cover like this would sell well in the market priced at $24.50. Sid's desires an operating profit of 25 percent of costs.
Required:
What is the highest acceptable manufacturing cost for which Sid's would be willing to produce the cover? (Round your answer to 2 decimal places.)
Homework Answers
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| Highest acceptable manufacturing cost | = | Cost price | |
| Cost price | = | Market price / (1 + markup on cost) | |
| = | $24.50 / (1 +0.25) | ||
| = | $ 19.60 | ||
| Therefore, Highest acceptable manufacturing cost is $19.60 | |||
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