Return to Blackboard Davis, Managerial Accounting, 3e Help System Announcements Grace Period: 2 days left Register No CALCULATOR PRINTER VERSION BACK NEXT Exercise 3-23 On April 24, 2015, Apple entered the wearable technology market with the release of its Apple Watch A May 1, 2015, article published in The Wall Street Journal estimated that the cost of materials and labor required to produce the watch totaled $81.40. The Apple Watch's retail price is $329. What percentage of the retail price is accounted for by the cost of materials and labor? (Round answer to decimal places, e.g. 25%) Cost of materials and labor LINK TO TEXT What is the markup dollar amount on the watch? (Round answer to 2 decimal places a 0.38.) Markup amounts What is the marke percentage of the cost on the watch? (Round answer to decimal places . 25 .) Markup percentage Estimates for the iPad mini 2 place materials and labor cost at 41 of the retail price. If Apple had wanted to maintain that same relationship between materials and labor cost and retail price for the Apple Watch, what price would Apple have set for the watch? What markup percentage of the cost would have yielded this price? (Round answers to decimal places, e.g. 25.)