7. Cal-Tire retails its regular tires at $120 each and its special high-performance tires at $175...
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7. Cal-Tire retails its regular tires at $120 each and its special high-performance tires at $175 each. Cal-Tire purchases the tires from the factory for $80 and $122 respectively. Overhead expenses are 20% of the selling price. For each line of tires, determine the amount of markup and the rate of markup on cost. 8. The cost of a gas barbecue to a retailer is $245. If the retailer wants a 30% markup on selling price, determine the amount of the markup and the selling price? 9. ABC Shop advertises a 20% markdown on a mountain bike regularly priced at $445. DEF Shop has a regular selling price for the same model of bike at $429. a. What is the reduced price at ABC Shop? b. What rate of markdown would DEF Shop have to offer to match ABC's reduced price? 7. Cal-Tire retails its regular tires at $120 each and its special high-performance tires at $175 each. Cal-Tire purchases the tires from the factory for $80 and $122 respectively. Overhead expenses are 20% of the selling price. For each line of tires, determine the amount of markup and the rate of markup on cost. 8. The cost of a gas barbecue to a retailer is $245. If the retailer wants a 30% markup on selling price, determine the amount of the markup and the selling price? 9. ABC Shop advertises a 20% markdown on a mountain bike regularly priced at $445. DEF Shop has a regular selling price for the same model of bike at $429. a. What is the reduced price at ABC Shop? b. What rate of markdown would DEF Shop have to offer to match ABC's reduced price?
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7 For regular tires Selling Price 120 Cost Price 80 Overhead Expenses 20 of Selling Price ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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