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Questions and Answers of Finance

Keven Dockter has selected a Garmin portable GPS that is on sale for 20% off. He also has a store coupon that reads "Take 10% off any already reduced price." How much will he pay for the portable GPS
Hampton's Organic Market specializes in organic produce. Merchandise is priced for quick sale and some is expected to be discarded because of spoilage. The market receives 500 pounds of apples that
Wolfe Camera Shop pays $78.50 for a Panasonic® 16.1 MP digital camera. The camera sells for $179.99. What is the percent of markup based on cost? Round to the nearest tenth of a percent.
A Fujifilm digital camera with software is marked up 67% based on cost. The cost of the camera is $167.45. Find the selling price of the camera.
Macy's Department Store marked up a Cuisinart® blender 38% based on cost. If the markup was $53.20, find the cost and selling price of each blender.
Lenox sells a serving platter for $359. The markup rate is 110% of the cost. Find the cost and markup for the platter.
A Canon black-and-white multifunction laser printer costs $49 and sells for $119.99. Find the rate of markup based on the selling price.
Find the selling price and cost if a tennis table is marked up $279.99 with a 56% markup rate based on the selling price.
A wallet was originally priced at $49.99 and was reduced by 30%. Find the markdown and the sale price.
A lamp costs $88. What is the selling price and markup if the markup is 45% of the selling price?
A file cabinet originally sold for $215 but was damaged and had to be reduced. If the reduced cabinet sold for $129, what was the rate of markdown based on the original selling price?
A desk that originally sold for $589 was marked down 25%. During the sale it was scratched and had to be reduced an additional 25% of the original price. What was the final selling price of the desk?
Brenda Wimberly calculates the selling price for all produce at Quick Stop Produce. If 400 pounds of potatoes were purchased for $0.13 per pound and 18% of the potatoes were expected to spoil before
A rugby shirt that was originally priced at $89.95 is marked down 35%. Madison has a coupon for 15% off the reduced price. How much will Madison pay for the shirt? What is the total rate of reduction?
A CD costs $0.90 and sells for $ 1.50. Find the rate of markup based on selling price. Round to the nearest whole percent.
A radio is marked up 65% of the selling price. Find the equivalent markup rate based on the cost. Round to the nearest tenth of a percent.
Becky Drewery purchased a small refrigerator for her dorm room for $159. The refrigerator costs $127. Find the rate of markup based on cost and based on the selling price. Round the rate to the
A Yamaha® 88 Portable Grand Keyboard has a cost of $345.58 and is marked up 63% based on cost. Find the selling price and cost of the keyboard.
A 10-ream case of printer paper sells for $39.99 and has a 47% markup based on the selling price. Find the markup and cost of one case of paper.
One big box store sells a Toshiba notebook computer for $549.99. Each computer has a 57% markup based on selling price. What is the markup and cost of each computer?
A copy machine is marked up 82.2% based on the cost. Find the markup rate based on selling price. Round to the nearest tenth percent.
Find the selling price and cost of an Amana® portable room air conditioner that is marked up $220 with a 55% markup rate based on selling price.
A stainless steel patio heater is marked up $87 over cost. The markup rate of 48% is based on cost. Find the cost and selling price of the heater. Find the rate of the selling price.
A cookbook has a 34% markup rate based on cost. If the markup is $5.27, find the cost of the cookbook. Find the selling price.
A computer stand sells for $385. What is the markup if it is 45% of the selling price? What is the cost?
A box of printer paper sells for $22.68. Find the cost and markup if there is a 35% markup rate based on cost.
What is the rate of markdown of the coffeemaker in Exercise 7? In exercise 7, A coffeemaker that originally sold for $86.90 was marked down to sell for $60.30. What is the markdown?
Explain why the percent of markup based on selling greater than 100%.
Explain why taking a series of markdowns of 25% and 30% is not the same as taking a single markdown of 55%. Illustrate your answer with a specific example.
When given the rate of markup, describe at least one situation that leads to adding the rate to 100%. Describe at least one situation that leads to subtracting the rate from 100%.
Show by giving an example that the final reduced price in a series markdown can be found by doing a series of computations or by using the net decimal equivalent.
Pro Peds, a local athletic shoe manufacturer, makes a training shoe at a cost of $22 per pair. This cost includes raw materials and labor only. A check of previous factory runs indicates that 10% of
A business estimates its operating expenses at 35% and its net profit at 20%, based on the selling price. For what price must an item costing $457.89 be sold to cover both the operating expenses and
Twenty decorative enamel balls cost $12.75 each and are marked up $9.56. a. Find the selling price for each one. b. Find the total amount of margin or markup for the 20 balls.
A sofa costs $398 and sells for $716.40, which is 180% of the cost. a. Find the rate of markup. b. Find the markup.
An audio system sells for $2,980, which is 160% of the cost. The cost is $1,862.50. a. What is the rate of markup? b. What is the markup?
A lamp costs $32 and is marked up based on cost. If the lamp sold for $72, what was the percent of markup?
A TV that costs $ 1,899 sells for a 63% markup based on the cost. What is the selling price of the TV?
A computer desk costs $196 and sells for $395. What is the percent of markup based on cost? Round to the nearest tenth percent.
Battery-powered massagers cost $8.50 if they are purchased in lots of 36 or more. The Gift Horse Shoppe purchased 48 and sells them at a 45% markup based on cost. Find the selling price of each
A wristwatch sells for $289. The markup rate is 250% of cost, a. Find the cost of the watch. b. Find the markup.
Tombo Mono Correction Tape sells for $3.29. The markup rate is 65% of the cost, \ a. What is the cost? b. What is the markup of the tape?
A Vizio® Razor 23" LED HDTV sells for $349 and has a 48% markup based on cost. Find the cost and markup.
A DreamGear Wii® Lady Fitness Workout Kit sells for $70.19 on a popular web site. The kit has a 62% markup based on cost. Find the cost and markup.
Cost = $40; rate of markup based on cost = 35%. a. Find the markup. b. Find the selling price.
Markup = $70; rate of markup based on cost = 83%. a. Find the cost. b. Find the selling price.
Selling price = $ 148.27; rate of markup based on cost = 40%. a. Find the cost. b. Find the markup.
Cost = $60; selling price = $ 150. a. Find the markup. b. Find the rate of markup based on cost.
Cost = $82; markup = $46. a. Find the rate of markup based on cost. b. Find the selling price.
Cost = $32; selling price = $40. Find the rate of markup based on the selling price.
An item has a 30% markup based on selling price. The markup is $100. a. Find the selling price. b. Find the cost.
An item costs $20 and sells for $50. a. Find the rate of markup based on cost. b. Find the rate of markup based on selling price.
An item has a 60% markup based on selling price. What is the equivalent markup percent based on the cost?
A 40% markup based on cost is equivalent to what percent based on selling price (retail)?
A lawn tractor that costs the retailer $599 is marked up 36% of the selling price, a. Find the selling price. b. Find the markup.
A recliner chair that sells for $1,499 is marked up 60% of the selling price. a. What is the markup?b. What is the cost?
Lowe's plans to sell its best-quality floor tiles for $ 15 each. This is a 48% markup based on selling price. a. Find the cost. b. Find the markup.
Markup = $75; markup rate of 60% based on the selling price,a. Find the selling price.b. Find the cost.
A serving tray costs $ 1, 4(K) and sells for $2,015. a. Find the rate of markup based on cost, b. Find the rate of markup based on selling price.
What is the equivalent markup based on cost of a water fountain that is marked up 63% based on the selling price?
A box of Acco paper clips is marked up 46% based on cost, What is the markup based on selling price?
Selling price = $1,980; cost = $795. Find the rate of markup based on the selling price.
Markup = $2,050; markup rate is 42% of the selling price. a. Find the selling price. b. Find the cost.
Markup rate based on selling price = 15%; markup = $250. Find the selling price and cost.
Find the selling price and markup for an item that costs $792 and is marked up 42% of the selling price. a. Find the cost rate. b. Find the selling price. c. Find the markup.
Zagg, Inc. plans to mark up a folio $66 over cost. This will be a 32% markup based on cost. Find the cost and selling price of the folio and the rate of the selling price.
Selling price = $1.98; markup is 48% of the selling price, a. What is the markup? b. What is the cost?
An item sells for $48 and is reduced to sell for $30. Find the markdown amount and the rate of markdown.
Julia purchased a sweatshirt that was reduced from $42 to sell for $26. How much was her markdown? What was the markdown and the rate of markdown?
A ladies' suit selling for $135 is marked down 25% for a special promotion. It is later marked down 15% of the sale price. Because the suit still hasn't sold, it is marked down to a price that is 75%
The Swim Shop paid a wholesale price of $24 each for Le Paris swimsuits. On May 5 it marked up the suits 50% of the cost. On June 15 the swimsuits were marked down 15% for a two-day sale, and on June
Tancia Boone ordered 600 pounds of Red Delicious apples for the produce section of the supermarket. She paid $0.32 per pound for the apples and expected 15% of them to spoil. If the store wants to
Drewrey's fruit stand sells fresh fruits and vegetables. Beck Drewrey, the manager, must mark the selling price of incoming produce high enough to make the desired profit while taking expected
The 7th Inning is buying Ohio State T-shirts. The cost of the shirts, which includes permission fees paid to Ohio State, will be $10.90 each if 1,000 shirts are purchased. Charlie sells 800 shirts
An item is reduced from $585 to sell for $499. What is the markdown amount and the rate of markdown?
Selling price = $850; reduced (new) price = $500. Find the markdown amount and the rate of markdown.
Selling price = $795; reduced price = $650. Find the markdown amount and the rate of markdown.
An item is originally priced to sell for $75 and is marked down 40%. A customer has a coupon for an additional 15%. What is the total percent reduction and the final selling price?
An item costs $400 and is marked up 60% based on the cost. The first markdown rate is 20% and the second markdown rate is 30%. What is the final selling price?
Jung's Grocery received 1,000 pounds of onions at $0.12 per pound. On the average, 4% of the onions will spoil before they are sold. Find the selling price per pound to obtain a markup rate of 200%
Deron marks down pillows at the end of the season. They sell for $35 and are reduced to $20. What is the markdown and the rate of markdown?
Irene Gamble earns $675 weekly and is married with 1 withholding allowance. She has a deduction for nonexempt insurance of $12.45. A 5% deduction is made for retirement. Find her total deductions
Media Services, Inc. has a payroll in which the total employee withholding is $765.26; the total employee Social Security tax is $185.56; the total employer Social Security tax is $273.92; the total
Last week, Laurie Golson packaged 289 boxes of Holiday Cheese Assortment. Find her gross weekly earnings if she is paid at the following differential piece rate. Cheese boxes packaged per week Pay
Molly Strawn receives 1.5% of eBay sales plus $2.15 for each item she lists through her eBay listing service. In August she listed 342 items that sold for a total of $18,206. What were her gross
Kay Darling receives 2% of eBay sales plus $1.85 for each item she lists through her eBay listing service. In February she listed 198 items that sold for a total of $15,981. What were her gross
Dwayne Moody is paid on a salary-plus-commission basis. He receives $275 weekly in salary and a commission based on 5% of all weekly sales over $2,000. If he sold $7,821 in merchandise in one week,
William Melton worked 47 hours in one week. His regular pay was $7.60 per hour with time and a half for overtime. Find his gross earnings for the week.
Lacy Dodd earns a monthly salary of $2,988 and is nonexempt from FLSA. Last week she worked 52 hours. What are her overtime earnings for the week?
Drew Darling earns a monthly salary of $2,756 and is nonexempt from FLSA. Last week he worked 58 hours. What are his overtime earnings for the week?
Rodney Whitaker earns $116,904 annually and is paid monthly. How much Social Security tax will be deducted from his December earnings? How much Medicare tax will be deducted from his December
Pam Trim earns $5,291 monthly, is married, and claims four withholding allowances. Her company pays her retirement, but she pays $52.83 each month for nonexempt insurance premiums. Find her net pay.
Shirley Riddle earns $2,319 biweekly. She is single and claims no withholding allowances. She saves 2% of her salary for retirement and pays $22.80 in nonexempt insurance premiums each pay period.
Donna Wood's gross weekly earnings are $715. Three percent of her gross earnings is deducted for her nonexempt retirement fund and $25.97 is deducted for nonexempt insurance. Find the net earnings if
Dieter Tillman earns a semimonthly salary of $ 1,698. He has a $100 adjustment-to-income flexible benefits package, is single, and claims three withholding allowances. Find the federal tax
Carter Manning has a weekly adjusted gross income of $980, is single, and claims one withholding allowance. Find the federal tax withholding to be deducted from his weekly paycheck using the
Margie Young is an associate professor at a major research university and earns $6,598 monthly with no adjustments to income. She is married and claims one withholding allowance. Find the federal tax
Carolyn Luttrell owns Just the Right Thing, a small antiques shop with four employees. For one payroll period the total withholding tax for all employees was $1,633. The total employees' Social
Determine the employer's deposit of withholding Social Security, and Medicare for the payroll register.
Bailey Plyler has three employees in his carpet cleaning business. The payroll is semimonthly and the employees earn $745, $780, and $1,030 per pay period. Calculate when and in what amounts FUTA tax

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