An item costing $185 was marked up by 50% of cost and subsequently marked down by $60

Question:

An item costing $185 was marked up by 50% of cost and subsequently marked down by $60 during a sale. Determine:
a. The regular selling price.
b. The rate of markdown.

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

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 06:59 AM

See More Questions

An item that cost $37.25 was marked up by 60% of cost. Later, the retail price was reduced to $41.72. If unit overhead expenses were 20% of cost, what was the unit operating profit at the reduced...
Calculate the reduced price, if an item costing $19.25 is marked up by 35% of the selling price and then marked down by 25%.
An item was marked up from $58.50 to $95.00, then later marked down by 30% during a Spring Sale. Determine: a. The original rate of markup on selling price. b. The price during the Spring Sale.
The Best Buy Co. Inc. 10-K report has the following footnote related to leasing activities. The future minimum lease payments under our capital and operating leases by fiscal year (not includ- ing...
Prepare journal entries to record the following merchandising transactions of Gore Company, which applies the perpetual inventory system. (It will help to identify each receivable and payable; for...
Using the steps of the research process to structure your thinking, evaluate the following marketing research effort: The FlyRight Airline Company was interested in altering the interior layout of...
In what ways might a governmental college or university benefit from continuing to use the AICPA College Guide fund accounting model for internal purposes? What are the possible drawbacks to doing...
Restate the following question component of the issue in a persuasive manner. A. "should the evidence be suppressed when . . . ?" In the case, the police failed to obtain a search warrant prior to...
9) The growth of the subprime mortgage market led to A) increased demand for houses and helped fuel the boom in housing prices. B) a decline in the housing industry because of higher default risk. C)...
You are considering the decision of whether or not to crash your project. After asking your operations manager to conduct an analysis, you have determined the "precrash" and "postcrash" activity...
Digital Devices sets its retail prices on computers, monitors, and printers to generate a 30% rate of markup on selling price. Overhead expenses normally work out to be 30% of cost. What is the...
An item was marked up from $24.99 to $49.98 before it was marked down to $24.99 and sold at cost. Determine: a. The rate of markup on cost. b. The rate of markdown.
A switching function to be implemented is described by the expression (a) Show an implementation off in terms of an eight-input multiplexer circuit. (b) Can f be realized with a four-input...
The break even point of a company is $240 000. They sell their product at a markup of 30% and have variable expenses of 9% of sales. They currently make a profit of $10 500. They plan on reducing...
What kind of messages are young girls and boys receiving about whether their safety in relationships is valued are by their families and communities? Do we emphasize to our children (boys and girls)...
Below are the transactions for Oliver Printing, Incorporated for June, the first month of operations. June 1 Obtain a loan of $ 5 6 , 0 0 0 from the bank by signing a note. June 2 Issue common stock...
Assume an organization must invest $ 7 0 0 , 0 0 0 in fixed costs to produce a product that sells for $ 7 5 and requires $ 4 0 in variable costs to produce one unit. What is the organization s...
hotel delta marriott montreal What do you think is the value and purpose for the hotel brand choosing to make CSR an important part of their overall business strategy? What two recommendations based...
Ash Inc.s capital structure and estimated capital costs are found in Table 9-2. Note that the sum of the capital structure weights must equal 100 percent if we have properly accounted for all sources...
What are some of the features of the Unified Process (UP)?
Assume that Diane DeCastro is a vice-president of Wells Fargo Bank's leasing operations in San Francisco. During 19X6 she worked for the company all year at a $\$ 5,625$ monthly salary. She also...
Bernice is about to retire with $139,000 in her RRSP. She will make no further contributions to the plan, but will allow it to accumulate earnings for another six years. Then she will purchase an...
Mrs. O'Reilly donated $500,000 to Medicine Hat College for a perpetual scholarship fund for women in business studies. What amount can be awarded on each anniversary, if the scholarship fund earns...
Dave and Morley borrowed $20,000 from Dave's father to make a down payment on a house. The interest rate on the loan is 4% compounded annually, but no payments are required for two years. The first...
Eye Deal Optometry leased vision - testing equipment from Insight Machines on January 1 , 2 0 2 4 . Insight Machines manufactured the equipment at a cost of $ 2 0 0 , 0 0 0 and lists a cash selling...
help! ee all photos + Add to o e D C N X Edit & Create Share Table of Contents No sales to an individual customer accounted for more than 10% of revenue during any of the last three fiscal years. Net...
Business law A person may have the liability of a partner even though no partnership exists True False

An item costing $185 was marked up by 50% of cost and subsequently marked down by $60

Question:

Step by Step Answer:

Given C 185 M 050 C D 60 Enter thes...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions