Problem:
The Falling Snow Company is considering production of a lighted world globe that the company would price at a markup of 0.30 above full cost. Management estimates that the variable cost of the globe will be $60 per unit and fixed costs per year will be $240,000. Assume that the quantity demanded at the price calculated in part is only 600 units.
Required:
Question: What is the full cost of the globe with a 0.30 markup?
Note: Please describe comprehensively and provide step by step solution.