Question: Business Math - Merchandising Please answer correctly! Unit operating expenses for an item costing $60 are estimated at 30% of cost, and the desired operating

Business Math - Merchandising

Please answer correctly! Business Math - Merchandising Please answer correctly! Unit operating expenses for an item costing $60 are estimated at 30% of cost, and the desired operating profit is 15% of cost. a. Determine the selling price. (Do

Unit operating expenses for an item costing $60 are estimated at 30% of cost, and the desired operating profit is 15% of cost. a. Determine the selling price. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Selling price b. Determine the rate of markup on cost. (Do not round intermediate calculations and round your final answer to 1 decimal place.) Markup on cost % c. Determine the rate of markup on selling price. (Do not round intermediate calculations and round your final answer to 1 decimal place.) Markup on selling price % A men's clothing store marks up suits by 55% of cost. This provides an operating profit of 15% of the selling price. If a suit's cost to the store is $212: a. Determine its selling price. (Round your answer to 2 decimal places.) Selling price $ b. Determine the rate of markup on selling price. (Round your answer to 2 decimal places.) Markup on selling price % c. Determine the operating profit. (Round your answer to 2 decimal places.) Operating profit Digital Devices plans to stop carrying the Casio FC-100 calculator. It normally marks up the calculator from the $52.20 wholesale cost to the regular selling price of $109.95. a. What is the normal rate of markup on selling price? (Do not round intermediate calculations and round final answer to 1 decimal place.) Rate of markup % b. What rate of markdown can be advertised if Digital Devices wishes to clear out the stock at the wholesale cost? (Do not round intermediate calculations and round final answer to 1 decimal place.) Rate of markdown %

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

1- Unit operating expenses for an item costing $85 are estimated at 50% of cost, and the desired operating profit is 10% of cost. a. Determine the selling price. (Do not round intermediate...

Monica bought a $1,250 4K Ultra HD TV for 20% down and payments of $200 per month (except for a smaller final payment) including interest at 15% compounded monthly. Construct the full amortization...

Unit operating expenses for an item costing $44 are estimated at 30% of cost, and the desired operating profit is 15% of cost. a. Determine the selling price. (Do not round intermediate calculations...

Unit operating expenses for an item costing $30 are estimated at 40% of cost, and the desired operating profit is 25% of cost. a. Determine the selling price. (Do not round intermediate calculations...

Unit operating expenses for an item costing $40 are estimated at 30% of cost, and the desired operating profit is 20% of cost. a. Determine the selling price. (Do not round intermediate calculations...

Unit operating expenses for an item costing $49 are estimated at 30% of cost, and the desired operating profit is 10% of cost. a. Determine the selling price. (Do not round intermediate calculations...

Unit operating expenses for an item costing $94 are estimated at 30% of cost, and the desired operating profit is 20% of cost. a. Determine the selling price. (Do not round intermediate calculations...

Unit operating expenses for an item costing $84 are estimated at 50% of cost, and the desired operating profit is 15% of cost. a. Determine the selling price. (Do not round intermediate calculations...

Unit operating expenses for an item costing $50 are estimated at 30% of cost, and the desired operating profit is 10% of cost. a. Determine the selling price. (Do not round intermediate calculations...

Although founded only in 2004, Facebook has more than 500 million active users, of which 50% log on to Facebook on any given day. In a recent survey by Facebook, young users (those born after 1984)...

A major industrialized state has a state corporate tax rate of 9.6% of taxable income. If a corporation has a state taxable income of $150,000, what is the total state and federal income tax it must...

Chapter 1 1 is available only to individual debtors. Group of answer choices True False

On 1 March 2007 DB Limited issued R560 000 15% debentures at R98. The debentures were to be redeemed at par in four equal annual payments starting 28 February 2010. Required: Journalise the above...