As the manager of Speedy Supermarket, answer the following questions. (Round dollars to the nearest cent and percents to the nearest tenth of a percent.) An advertisement has two 2 liter bottles and a 12 pack of "Bubbly-Cola". The top says "Speedy Supermarket." Moving down are the 2 liter bottles. Text around them is as follows. Sale 4/$5 2 Liter Bubbly-Cola Products Below the bottles is the 12 pack. Text around it is as follows. Sale $13/3 12 Pack Bubbly-Cola Products (a) If 2 liter Bubbly-Cola products cost Speedy $16.20 per case of 24 bottles, what is the amount of the markup (in $) and what is the percent markup on selling price per case? amount of the markup$ percent markup on selling price % (b) If 12 pack Bubbly-Cola products have a markup of $8.65 per case of six 12 packs at Speedy, what are the cost (in $) and the percent markup on selling price per case? cost$percent markup on selling price % (c) Why has Speedy Supermarket chosen to use markup based on selling price? The markup based on selling price is greater than markup on cost.Speedy Supermarket can control how much they pay for items using markup based on selling price. Speedy Supermarket is a retail store and therefore uses markup based on selling price.The markup based on selling price is easier to calculate than markup on cost.Speedy Supermarket is a manufacturer and therefore uses markup based on selling price.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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As the manager of Speedy Supermarket, answer the following questions. (Round dollars to the nearest cent and percents to the nearest tenth of a percent.)

An advertisement has two 2 liter bottles and a 12 pack of "Bubbly-Cola".

The top says "Speedy Supermarket."
Moving down are the 2 liter bottles. Text around them is as follows.
- Sale
- 4/$5
- 2 Liter Bubbly-Cola Products
Below the bottles is the 12 pack. Text around it is as follows.
- Sale $13/3
- 12 Pack Bubbly-Cola Products

(a)

If 2 liter Bubbly-Cola products cost Speedy $16.20 per case of 24 bottles, what is the amount of the markup (in $) and what is the percent markup on selling price per case?

amount of the markup$ percent markup on selling price %

(b)

If 12 pack Bubbly-Cola products have a markup of $8.65 per case of six 12 packs at Speedy, what are the cost (in $) and the percent markup on selling price per case?

cost$percent markup on selling price %

(c)

Why has Speedy Supermarket chosen to use markup based on selling price?

The markup based on selling price is greater than markup on cost.Speedy Supermarket can control how much they pay for items using markup based on selling price. Speedy Supermarket is a retail store and therefore uses markup based on selling price.The markup based on selling price is easier to calculate than markup on cost.Speedy Supermarket is a manufacturer and therefore uses markup based on selling price.

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