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J-Time, Inc. is planning to launch a new brand of watches for kids. Similar watches are available in the market for $58. In order to penetrate the market, the company plans to use target pricing and desires a 22% net profit markup on total cost. Calculate the target cost. (Round your answer to the nearest cent.)
A) $12.76
B) $45.24
C) $47.54
D) $70.76
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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Thanks!
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Happy to help Smiling Face with Open Mouth
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7 years ago Edited: 7 years ago, MSRichard7
 Is there a way to get help without having to pay to upgrade? I've been working on this but I don't think I am correct in my understanding.
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