Question
Leah Wells, a yoga instructor, started a company that sells athletic yoga clothing. You are Leah's marketing manager. (Do not round intermediate calculations and round
Leah Wells, a yoga instructor, started a company that sells athletic yoga clothing. You are Leah's marketing manager.(Do not round intermediate calculations and round your final answers to 2 decimal places.)
a.After assessing the competitors, you determine that Leah needs to price her products with a markup percentage of 60%. The cost of her tank tops is $48 and her pullovers is $58. Determine the selling price for each of Leah's clothing items.
b.Leah is ready to launch her yoga pants. You have determined that she should set her price 30% below her competitor's price of $128. Leah's cost to produce yoga pants is $54 per unit. Determine the markup percentage on Leah's yoga pants.
c.Calculate the gross profit margin for tank tops, pullovers, and yoga pants.
d.After a year, you determine that Leah should set a standard target margin percentage of 45% on all products. Determine the new prices for tank tops, pullovers, and yoga pants.
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