An audio system sells for $2,980, which is 160% of the cost. The cost is $1,862.50. a.
Question:
a. What is the rate of markup?
b. What is the markup?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
a M S C M 160 ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
Question Posted:
Students also viewed these Finance questions
-
Bell Company, a manufacturer of audio systems, started its production in October 2012. For the preceding 3 years, Bell had been a retailer of audio systems. After a thorough survey of audio system...
-
Bell Audio started its production in October 2020. For the preceding 3 years, Bell had been a retailer of audio systems. After a thorough survey of audio system markets, Bell decided to turn its...
-
Valencia Products is a decentralized organization that evaluates divisional management based on measures of divisional contribution margin . Consumer Audio (CA) Division and Auto Electronics (AE)...
-
Which of the following activity bases would best be used to allocate setup activity to products? a. Number of inspections b. Direct labor hours c. Direct machine hours d. Number of production runs
-
Each of the given situations is independent of the other. For each, list the programmed input validation check that would prevent or detect the error.
-
A U.S. synthetic rubber manufacturer is considering moving its production to a Japanese plant. Its estimated production function is q = 10L 0.5 K 0.5 (Flath, 2011). In the United States, w = 10 = r....
-
What is the difference between a claim and a variation? Why have variations been a contentious issue on some projects?
-
Dixie Showtime Movie Theaters, Inc., owns and operates a chain of cinemas in several markets in the southern United States. The owners would like to estimate weekly gross revenue as a function of...
-
Q11: List and interpret three liquidity ratios. Q12: Explain how ethics can affect the value of a public corporation. Q13: Describe two types of business organizations in which you could obtain an...
-
A bank categorizes its customers into one of three groups based on their banking habits. A random sample of 30 customers from each group was selected, and the number of times each customer visited...
-
A sofa costs $398 and sells for $716.40, which is 180% of the cost. a. Find the rate of markup. b. Find the markup.
-
A lamp costs $32 and is marked up based on cost. If the lamp sold for $72, what was the percent of markup?
-
Show that the principal directions of the deviatoric stress tensor coincide with the principal directions of the stress tensor. Also show that the principal values of the deviatoric stress d can be...
-
Zhang Company leased equipment from Mann Industries. The lease agreement qualifies as a finance lease and requires annual lease payments of $47,847 over a six-year lease term (also the asset's useful...
-
Brooke, a single taxpayer, works for Company A for all of 2023, earning a salary of $50,000. Note: Round your intermediate and final answers to the nearest whole dollar amount. Problem 8-64 Part b...
-
Last month when Holiday Creations, Incorporated, sold 38,000 units, total sales were $152,000, total variable expenses were $124,640, and fixed expenses were $36,600. Required: 1. What is the...
-
The E.N.D. partnership has the following capital balances as of the end of the current year. Pineda Adams Fergie Gomez Total capital $ 280,000 240,000 210,000 190,000 $ 920,000 Answer each of the...
-
Dublin Corporation provides the following information related to its inventory during the month of October: October 1 October October 12 October 18 October 24 October 31 Required: Inventory on...
-
Determine each of the following as being either true or false. If it is false, explain it why. cos 2 2 = 1 sin 2 2
-
Juanita owns a home in Richardson, TX. She purchases a Homeowners Policy (HO-3) from Farm State Ins. Co. The policy provides $100,000 in liability coverage (coverage E) and $5,000 in Med Pay coverage...
-
Ruxandras Canada Student Loans totalled $7200 by the time she finished Conestoga College in April. The accrued interest at prime plus 2.5% for the grace period was converted to principal on October...
-
George borrowed $4000 on demand from CIBC on January 28 for an RRSP contribution. Because he used the loan proceeds to purchase CIBCs mutual funds for his RRSP, the interest rate on the loan was set...
-
Ms. Wadeson obtained a $15,000 demand loan from TD Canada Trust on May 23 to pur- chase a car. The interest rate on the loan was prime plus 2%. The loan required payments of $700 on the fifteenth of...
-
How is decision-making in organizations best supported by Management Accounting (a descriptive nature) and how should it be supported by Management Accounting (a prescriptive nature)? Is there a gap...
-
Discuss the thermodynamic principles governing the separation of azeotropic mixtures using advanced distillation techniques such as pressure swing distillation, extractive distillation, and hybrid...
-
respond to the discussion In the IMA article, Activity-Based Costing (ABC) is explained as a cost allocation technique that traces indirect costs (often referred to as "overhead") to specific cost...
Study smarter with the SolutionInn App