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Gabriel Metalworks produces a special kind of metal ingots that are unique, which allows Gabriel to follow a cost-plus pricing strategy. Gabriel has $11,000,000 of assets and shareholders expect approximately a 9% return on assets. Assume all products produced are sold. Additional data are as follows:

Sales volume   450,000    units per year
Variable costs   $16    per unit
Fixed costs   $1,500,000    per year

Using the cost-plus pricing approach, what should be the sales price per unit? (Round your answer to the nearest cent.)
A) $19.33
B) $21.53
C) $16.00
D) $2.20
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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