11. It cost a singer-songwriter $67,300 for all of the expenses to engineer, record, mix, and promote a new music disc. The cost also included the manufacturing of 5000 discs. Assume each disc sells for $20. Find (a) the markup in dollars, (b) the markup as a percent of cost to the nearest tenth of a percent, and (c) the markup as a percent of selling price to the nearest tenth of a percent.
11. It cost a singer-songwriter $67,300 for all of the expenses to engineer, record, mix, and promote a new music disc. The cost also included the manufacturing of 5000 discs. Assume each disc sells for $20. Find (a) the markup in dollars, (b) the markup as a percent of cost to the nearest tenth of a percent, and (c) the markup as a percent of selling price to the nearest tenth of a percent.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![11. It cost a singer-songwriter $67,300 for all of the expenses to engineer, record, mix, and
promote a new music disc. The cost also included the manufacturing of 5000 discs.
Assume each disc sells for $20. Find (a) the markup in dollars, (b) the markup as a percent
of cost to the nearest tenth of a percent, and (c) the markup as a percent of selling price to
the nearest tenth of a percent.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6642ca7b-d299-4174-84f6-d3b067b52177%2F6a506251-67c3-476f-9dc3-6c2adb9cc8ba%2F60kmjrb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:11. It cost a singer-songwriter $67,300 for all of the expenses to engineer, record, mix, and
promote a new music disc. The cost also included the manufacturing of 5000 discs.
Assume each disc sells for $20. Find (a) the markup in dollars, (b) the markup as a percent
of cost to the nearest tenth of a percent, and (c) the markup as a percent of selling price to
the nearest tenth of a percent.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
Step 1
Given information is:
Cost of producing Discs = $67300
Discs produced = 5000
Selling price per disc = $20 per disc
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