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 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 %