How did Montrose uses a 140 markup on total cost and recently computed a selling price of 1560 for a particular product. On the basis of this information the product's total cost is?

To find the product's total cost using a 140% markup on total cost, we can set up the equation: Selling Price = Total Cost + (Markup Percentage × Total Cost). Given the selling price of 1560, we can express this as: 1560 = Total Cost + 1.4 × Total Cost, which simplifies to 1560 = 2.4 × Total Cost. Dividing both sides by 2.4 gives us Total Cost = 1560 / 2.4, resulting in a total cost of 650.