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Business, 26.02.2020 18:48 ilonkaip6323

Raffles Company routinely bids on construction jobs. Raffles first determines the budgeted product cost of the job and then applies a markup of 50%. If a bid of $15,000 is submitted for a new job, which of the following is true? a. All costs pertaining to the job total $15,000. b. $5,000 is pure profit. c. Budgeted product cost is $15,000. d. $5,000 includes selling and administrative expense, and profit. e. $5,000 includes fixed overhead, selling and administrative expense, and profit.

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