Question

To determine a product selling price based on the total cost method, management should include: Multiple Choice Total product and selling, general, and administrative costs plus a markup. Total selling, general, and administrative costs plus a markup. Total product costs plus a markup. Only a markup. Total product and selling, general, and administrative costs only.

Answer 1

If one wants to determine the selling price of a product using the total cost method, the management should use Total product costs plus a markup.

What is total cost method?

When using the total cost method, the company takes into account the full cost of producing the good in question. This includes total product cost only.

A markup is then added to the total cost to find a suitable selling price that allows for a projected level of profit.

Find out more on the total cost method at https://brainly.com/question/6480601.