View the step-by-step solution to:

Trial 1 2 3 4 5 6 7 8 9 10 Total Average Random Number 28 14 44 51 91 38 79 70 98 11 Materials Cost per Unit 35 33 38 38 39 35 39 38 39 33 367 36.7...

B. Determine the selling price per unit that should be established for this product using your simulation results and assuming that the company wants to realize an average markup of $20 on each unit sold.

Materials Labor Utilities Total Random Cost Random Cost Random Cost Cost Trial Number per Unit Number per Unit Number per Unit per Unit 1 28 35 21 23 85 6 64 2 14 33 50 24 64 4 61 3 44 38 90 28 15 3 69 4 51 38 71 25 66 4 67 5 91 39 10 22 45 4 65 6 38 35 11 22 74 6 63 7 79 39 70 25 62 4 63 8 70 38 16 23 18 3 64 9 98 39 88 28 74 6 73 10 11 33 67 25 35 4 62 Total 367 245 44 656 Average 36.7 24.5 4.4 656
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