Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Recreate and complete the following chart using a calculator and the formulas provided. Round answer to one decimal place. Markup = Selling Price - Cost
Recreate and complete the following chart using a calculator and the formulas provided. Round answer to one decimal place.
- Markup = Selling Price - Cost Price
- Percentage Markup on Cost = (Markup Cost of Product) 100
- Percentage Margin on Selling Price = (Markup Selling Price) 100
| Product | Selling Price | Cost Price | Markup $ | Markup % | Margin % |
|---|---|---|---|---|---|
| canned soup | $1.69 | $0.75 | |||
| TV dinners | $4.00 | $2.75 | |||
| frozen french fries | $2.99 | $2.15 | |||
| white t-shirts | $10.00 | $6.50 | |||
| 4 G MP3 Player | $299.00 | $175.00 | |||
| large coffee | $1.39 | $0.89 | |||
| 42 inch plasma TV | $2499.00 | $1,999.00 | |||
| ballet shoes | $99.00 | $47.50 | |||
| abstract art | $899.00 | $225.00 | |||
| used car | $11,900.00 | $9,000.00 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Contemporary Business
Authors: Louis E. Boone, Micheal H. Khan, DAvid L. Kurtz, Brahm M. Canzer
1st Canadian Edition
978-1118161739, 1118161734
