Part 2 (30 polats) Many resellers and especially many retailers discuss their markup not in terms of Markup-onCost, but as a reflection of price. In other words, markup is viewed as a percentage of the selling price and not as a percentage of cost, as it is with the Morkup-on-Cost method. Complete the work below by both the answers and how you got to them. You must show your work, or it will not count. Consult Chapter 10 and the Marketing Math Appendix in the textbook, along with the Week 7 readings and course materials. Answer the following: 1. A clothing store is selling a suit with a $190.50 markup, which requires a $650 selling peice. What is the markup percentage based on the selling price? 2. Company XYz is trying to price their shoes based upon selling price. This company's cost per pair of shoes is $99 each, and their markup-on-selling price percentage is 50%. What is the selling price for one pair of shoes? Consider the following scenario and data, then answer the questions that follow: You have been asked by your manager to craft an update on the company's sales and fulfilment. performance of your flagship product. The data provided by your company accounting department shows the breakdown of allocated the costs for the fagship product: Variable costs: - Packing: 58.50 per sale - UPS (fulfilment charge) charge per sale: $17.00 per sale - Sales Commission: $14.00 per sale - Flagship Units: $45.00 Cost of each Fixed Costs: - Rent: $135,000 per year - Overhead: $700,000 Selling Price: $162.00 per unit Answer the following (and remember to show your work): 1. What is the contribution margin per unit for the flagship product? 2. What is the Break-Even Volume in Units for the flagship product? 3. What is the Break-Even in dollars for the flagship product? 4. What would be the net profit if you sold 42,000 units of the flagship product