Question: 1) calculate the missing values and express your answers rounded to two decimal places. Cost Amount of Markup Selling Price Rate of Markup on Cost

1) calculate the missing values and express your answers rounded to two decimal places.

Cost Amount of Markup Selling Price Rate of Markup on Cost Rate of Markup on Selling Price
a.

$320.00 25.00%

%
b. $62.00

%

 32.00%

2)Rolf's Golf store sells golf balls for $28 per dozen. The store's overhead expenses are 27% of cost and the owners require a profit of 21% of cost.

a. How much does Rolf's Golf store buy the golf balls for?

b. What is the price needed to cover all the costs and expenses?

c. What is the highest rate of markdown at which the store will still break even?

d. What markdown rate would price the golf balls at cost?

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