Maintained markup is 39 percent, net sales are $52,000, and reductions are $2,500. What are the gross

Question:

Maintained markup is 39 percent, net sales are $52,000, and reductions are $2,500. What are the gross margin in dollars and the initial markup as a percentage? Explain why initial markup is greater than maintained markup.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Retailing Management

ISBN: 978-1259573088

10th edition

Authors: Michael Levy, Barton Weitz, Dhruv Grewal

See More Books

Question Posted: Dec 03, 2018 11:47 AM

See More Questions

A departments maintained markup is 38 percent, reductions are $560, and net sales are $28,000. Whats the initial markup percentage?
1. Given the soft-goods targets, are these marked correctly? If not, what should the initial retail price be to obtain her 60 percent minimum initial markup percentage? 2. By noon another shipment...
Maintained markup is 39 percent, net sales are $52,000, alterations are $1,700, shrinkage is $500, markdowns are $5,000, employee discounts are $2,000, and cash discounts are 2 percent. What are...
When they hear the name Credit Suisse, my grandchildren will likely have to google (or whichever search engine exists then) these two words. For most of my contemporaries here in Switzerland, Credit...
James Wilson is a new staff accountant for Zoie's Beauty Supply. He has asked you to review the financial statements prepared for April to find and correct any errors. Review the income statement and...
Determine the components of the reactions at D and E if the frame is loaded by a clockwise couple of magnitude 150 N m applied (a) at A, (b) at B. 0.4 m 0.4 m
A major computer manufacturer is having a sale on computers. The number of computers sold during this sale at a sample of ten stores was $800,1,100,0,400,700,800,1,000,500$, 800 , and 300. a. Is...
The economist for the ABC Truck Manufacturing Corporation has calculated a production function for the manufacture of their medium-size trucks as follows: Q= 1.3L0.75K0.3 where Qis number of trucks...
Brite Toothbrushes has gathered the following Information to complete its Production Report for the month of April. Assume all materials are added at the beginning of the process. Required: Using the...
For each of the total cost functions, write the expressions for the total fixed cost, average variable cost, and marginal cost (if not given), and draw the average total cost and marginal cost...
Mens Wearhouse purchased black leather belts for $15.99 each and priced them to sell for $29.99 each. What was the markup on the belts?
What is the difference between bundled pricing and multiple-unit pricing?
The Town of Tyler approved the following general fund budget for the fiscal year July 1, 2016, to June 30, 2017: TOW N OF TYLER GENERAL FUND BUDGET SUMMARY FOR THE YEAR JULY 1, 2016 TO JUNE 30, 2017...
In light of the recent interest rate hikes by the Federal Reserve to fight inflation, economists and financial market experts are debating the effectiveness of a tight monetary policy on inflation...
Develop a presentation summarizing your analysis of the assigned Code provision and address the following questions: What ethical theories or principles is this provision designed to uphold? What...
Jill purchases a new automobile that cost $ 1 4 , 0 0 0 . She receives a $ 4 , 0 0 0 trade - in allowance for her old auto and signs a $ 1 0 , 0 0 0 note with a market rate of 8 % . The note requires...
Multiply. (Simplify your answer completely.) (2y4)(4y+9)
Make a detailed report that Analyzes Under Amours Marketing Mix in the united states Identify Under Armour Target Group in The USA Suggest Marketing Objectives and Marketing Strategies to reach those...
The text defined intrinsic value as the value of an asset given a hypothetically complete understanding of the assets investment characteristics. Discuss why hypothetically is included in the...
Which of the following statements is false? a. Capital leases are not commonly reported in a Capital Projects Fund. b. A governmental entity may report a Capital Project Fund in one year but not the...
Why is the target market placed in the center of the four Ps in the text diagram of a marketing strategy (Exhibit 2-4)? Explain, using a specific example from your own experience.
If a company sells its products only from a website, which is accessible over the Internet to customers from all over the world, does it still need to worry about having a specific ta r get market?...
Explain, in your own words, what each of the four Ps involves.
J is going to receive a 30-year annuity of 8,500 and L is going to receive perpetuity of 8,500. If the appropriate interest rate is 6%, how much more is L's cash flow worth?
. Assume that over the past 88 years, U.S. Treasury bills had an average return of 3.5% as compared to 6.1% on long-term government bonds. What was the average risk premium on the long-term...
The following data were gathered to use in reconciling the bank account of Bradford Company: Balance per bank $ 18,050 Balance per company records 10,040 Bank service charges 50 Deposit in transit...

Maintained markup is 39 percent, net sales are $52,000, and reductions are $2,500. What are the gross

Question:

Step by Step Answer:

Gross margin GM Maintained markup Reductions GM 52000 x 39 2500 GM 20280 2500 GM 177...View the full answer

Retailing Management

Students also viewed these Business questions