Exotik Wines sell vintage and bespoke wines. The store purchases wines from different distributors who buy their products from manufacturers. The marketing manager is trying to calculate a red wine markup price. The forecasts sales for this product is $850,000, operating expenses are $644,000, and $24,000 in reductions. If Exotik Wines establishes a target profit of $68,000: 

a) Determine and interpret the Initial markup percentage 

b) Determine retail price for a bottle that cost $25 

c) Discuss why markups prices vary for the same bottle between a restaurant, a bottle shop, and at a vineyard cellar

Answer rating: 100% (QA)

Exotik Wines Red Wine Markup Analysis a Initial Markup Percentage Total Cost Forecasted sales 850000 ... View the full answer