In February, Long Lake Nursery ordered lawn fertilizer at $18.60 less 33 1/3%, 12 %, and

Question:

In February, Long Lake Nursery ordered lawn fertilizer at $18.60 less 33 1/3%, 12 ½ %, and 32 5% per 20-kg bag. The fertilizer is normally priced to provide a 55% rate of markup on selling price. Operating (overhead) expenses are 30% of cost. To clear out the remaining bags of fertilizer in July, they were marked down by 45%. Calculate:
a. The net cost per bag.
b. The operating expenses per bag.
c. The regular selling price.
d. The sale price (reduced selling price).
e. The reduced markup at the sale price.
f. The operating profit or loss at the sale price.
g. The rate of mark up on the sale price.