FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A retailer uses a 35% markup on cost. What is the equivalent percent markup on selling price (to the nearest tenth of a percent)?
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- i don't know why selling price is set at 25% of gross profit is equals to Gross Profit = 25% of salesarrow_forwardUSING THE WEIGHTED AVERAGE METHOD, HOW MUCH IS THE COST OF GOOD SOLD AT THE END OF NOVEMBER?arrow_forwardomplete the table: Cost Markup Selling Price $480 40% on selling price _______ ?selling pricearrow_forward
- A mark up of 15% on sales is equivalent to what markup on cost?arrow_forwardCalculate the total cost, total selling price and selling price per brownie. Note: Round your answers to the nearest cent. Item Brownies Total quantity bought Unit cost 10 $ 0.95 Total cost Percent markup on cost 70 % Total selling price Percent that will spoil 10 % Selling price per browniearrow_forwardAll refrigerator cost a company $1,600 to manufacturer. If it sells for $3,456, what is the percent markup based on cost? (Round to the nearest whole percent)arrow_forward
- 1. Assume a company sells three different products. The contribution margin ratio of the first product is 20 percent. The contribution margin ratio of the second product is 50 percent. The contribution margin ratio of the third product is 80 percent. What is the range of the company's overall contribution margin ratio?arrow_forwardanswer the three questions and show the solutionarrow_forwardConsider the following information: Retail price per unit: Wholesale price per unit: Manufacturer's price per unit: Manufacturer's variable cost: Retailer's fixed costs per quarter: Wholesaler's fixed costs per quarter: Manufacturer's fixed costs per quarter: Retailer's unit sales this quarter: Wholesaler's unit sales this quarter: Manufacturer's unit sales this quarter: $150 O $90.91 O $111.12 O $72.50 O $145.46 $80 $50 $35 $75,000 $1,750,000 $2,500,000 1,800 80,000 160,000 If the wholesaler wants his margin to be 45%, but doesn't believe he can convince the manufacturer to lower her price below $50, what price does the wholesaler need to charge the retailer? O Searcharrow_forward
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