Special-Order Pricing Decision
Bob Johnson, Inc., sells a lounging chair for $24 per unit. It incurs the following costs for the product: direct materials, $12; direct labor, $8; variable overhead, $3; and fixed overhead, $1.
The company has received a special order for 46 chairs. The order would require rental of a special tool for $270. Bob Johnson, Inc., has sufficient idle capacity to produce the chairs for this order.
Calculate the minimum price per chair that the company could charge for this special order if management requires a $510 minimum profit on any special order. If required round your intermediate calculations to two decimal places. Round your final answer to two decimal places.
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