FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given a selling price of $700 and gross profit mark-up of 40%, what is the cost of an item? $500 $420 $280 $980

image text in transcribed
Given a selling price of $700 and gross profit mark-up of 40%, what is the cost of an item? $500 $420 $280 $980

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles

Accounting Principles

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Weygandt Kimmel Kieso

10th Edition

0470646462, 978-0470646465

More Books

Students also viewed these Accounting questions

Question

★★★★★
Many U.S. companies such as Home Depot, Intel, Kodak, Nike, and Whirlpool have set up sales offices in China. One thing sales managers must be aware of is that the differences in sales styles between...

Answered: 1 week ago

Question

★★★★★
Human body: \(37^{\circ} \mathrm{C}\) or \(37^{\circ} \mathrm{F}\) Determine the most reasonable value for each temperature.

Answered: 1 week ago

Question

★★★★★
A simple linear logistic regression model was fit to the Body Fat data set for classifying an individual as obese (1) or not obese (0) based on the explanatory variable abdomen circumference. Use the...

Answered: 1 week ago

Question

★★★★★
The statement of cash flows of Spirit, Inc., reported the following for the year ended December 31, 2012: Cash flows from financing activities (amounts in millions) Cash dividends paid...

Answered: 1 week ago

Question

★★★★★
CISM - Assignment one Capability Audit One component only Dear students: In chapter one and two, we explained capabilities as business model component. These capabilities are 8 components represented...

Answered: 1 week ago

Question

★★★★★
a- ($1): (x + 3y = 7 (x.y = 2 b- (S2): (2x-3y = 1 (6x-4y=8

Answered: 1 week ago

Question

★★★★★
Assume that the classical economic order quantity model suggests Q0 = 25 for a certain item. However, for some practical reasons the order quantity has to be a multiple of 10. What is then the best...

Answered: 1 week ago

Question

★★★★★
b) At a certain terminal, the arrival distribution of trucks is found to be Poisson with 3 trucks arriving per hour. The service time is exponentially distributed with unloading rate of 4 trucks per...

Answered: 1 week ago

Question

★★★★★
From the perspective of a training manager (or professional trainer) how does the analysis of the work environment help 1) diagnose performance problems. 2) contribute to the success or failure of...

Answered: 1 week ago

Question

★★★★★
He noticed that steel drums were in the hole, and noticed they were leaking. He called the county and they investigated. There were toxic chemicals going into the ground. Below the ground was the...

Answered: 1 week ago

Question

★★★★★
I need help expanding on this essay about this case study. Here is the summary I got for you and I will also attach the reading incase you need it. Please help me get 6 references for this that tie...

Answered: 1 week ago

Question

★★★★★
Why is pre-move orientation and training of expatriates so important?

Answered: 1 week ago

Question

★★★★★
What are some global issues confronting women?

Answered: 1 week ago

Question

★★★★★
Is there a necessary trade-off between Landons need for low expenses and the workers need for safe working conditions? Explain.

Answered: 1 week ago

Previous Question Next Question