this work id done using Mark Down formulas.

Complete the following five questions and submit through Canvas by the stated deadline. Include photos of your step-by-step paperwork MAXIMUM POINTS: 16 regular points (No credit without including the step-by-step work). FINAL ANSWERS Question 1. Initial markup Question 1. Original selling price Question 2. Number of bowls Question 2. Total cost of goods Question 3. Projected gross margin Question 4. Off-retail markdown percentage Question 4. Dollar value of the markdown Question 5. Off-retail markdown percentage Use the following information for Questions 1, 2, and 3 Planned profit Planned net sales Planned retail operating expenses $45.000 $50,000 $200.000 Question 1. Take Me to the Beach Pottery has introduced a new line of bowls that wholesale for $8.00. Sharon is seriously considering a purchase of the bowls for her gift shop. As she works on her business plan, Sharon knows that it is rare to sell all the bowls at their original price, she projects a 20% percentage of retail reductions. To meet her goals, what needs to be the initial markup and the original selling price? Question 2. Sharon (from question 1) continues to work on her business plan. She want to figure her gross margin. But first needs to figure out her total cost of goods. Taking information from Question 1, first figure the number of bowls Sharon needs to sale. Remember is your answer is not an exact number, round your answer up. Then figure the total cost of goods. Question 3 Now that Sharon knows the total cost of goods, what is her projected gross margin (answer is to be $)? Question 4 At the beginning of summer Karl at Karl's Bait and Tackle was selling Snazzy coolers at full retail price of $185.00. Now that summer is over, Karl has reduced the price to $150.00. Knowing these two numbers (full retail and sales price) figure the off-retail markdown percentage. Karl expects to sell 20 at the sales price. Figure the total dollar value of the markdown. MKT 4463 - CHAPTER 17 Markdown Pricing Question 5 Duluth Trading Company has its men's Dry on the Fly 11" cargo shorts on sale. As shown in the advertisement, the original price was $64.50 and the sales price is $31.49. What is the off-retail markdown percentage? SALE Men's Dry on the Fly 11" Cargo Shorts * * (558) $64.50 $31.49 Complete the following five questions and submit through Canvas by the stated deadline. Include photos of your step-by-step paperwork MAXIMUM POINTS: 16 regular points (No credit without including the step-by-step work). FINAL ANSWERS Question 1. Initial markup Question 1. Original selling price Question 2. Number of bowls Question 2. Total cost of goods Question 3. Projected gross margin Question 4. Off-retail markdown percentage Question 4. Dollar value of the markdown Question 5. Off-retail markdown percentage Use the following information for Questions 1, 2, and 3 Planned profit Planned net sales Planned retail operating expenses $45.000 $50,000 $200.000 Question 1. Take Me to the Beach Pottery has introduced a new line of bowls that wholesale for $8.00. Sharon is seriously considering a purchase of the bowls for her gift shop. As she works on her business plan, Sharon knows that it is rare to sell all the bowls at their original price, she projects a 20% percentage of retail reductions. To meet her goals, what needs to be the initial markup and the original selling price? Question 2. Sharon (from question 1) continues to work on her business plan. She want to figure her gross margin. But first needs to figure out her total cost of goods. Taking information from Question 1, first figure the number of bowls Sharon needs to sale. Remember is your answer is not an exact number, round your answer up. Then figure the total cost of goods. Question 3 Now that Sharon knows the total cost of goods, what is her projected gross margin (answer is to be $)? Question 4 At the beginning of summer Karl at Karl's Bait and Tackle was selling Snazzy coolers at full retail price of $185.00. Now that summer is over, Karl has reduced the price to $150.00. Knowing these two numbers (full retail and sales price) figure the off-retail markdown percentage. Karl expects to sell 20 at the sales price. Figure the total dollar value of the markdown. MKT 4463 - CHAPTER 17 Markdown Pricing Question 5 Duluth Trading Company has its men's Dry on the Fly 11" cargo shorts on sale. As shown in the advertisement, the original price was $64.50 and the sales price is $31.49. What is the off-retail markdown percentage? SALE Men's Dry on the Fly 11" Cargo Shorts * * (558) $64.50 $31.49