2

Rhonda Brennan found her first job after graduating from college through the classifieds of the Miami Herald. She was delighted when the offer came through at $27.50 per hour. She completed her W-4 stating that she is married with a child and claims an allowance of 3. Her company will pay her biweekly for 80 hours (assume a tax rate of 6.2% on $110,100 for Social Security and 1.45% for Medicare).

3-

Arleys Bakery makes fat-free cookies that cost $1.90 each. Arley expects 20% of the cookies to fall apart and be discarded. Arley wants a 50% markup on cost and produces 200 cookies. What should Arley price each cookie? (Round your answer to the nearest cent.)

4-J.C. Penney sells a Timex watch for $139.99 that cost $89.97. J.C. Penney's percent of markup based on the selling price is?