Answered: . What is the cost of a shirt sold at…

. What is the cost of a shirt sold at P150 if the markup rate is 35% of the selling price? 3. What is the markup rate based on selling price if markup rate on cost is 10%?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: 105-1. Assume that you are in charge of pricing for a firm that produces pickles. You have fixed…

A: The details regarding selling price and Variable cost per unit and Fixed cost. Required 1. Break…

Q: Find the selling price of an item that costs RO52, if the markup is 40% on the cost?

A: Selling price is the value at which goods are sold in the market.

Q: Use the net price rate to calculate the net price for 40 boxes of computer paper if the unit price…

A: To calculate the net price rate we will use the below formula Net price rate = Unit…

Q: The markup of a product is RO 90. If the markup is 45% of selling, what is the cost? a. RO 200 b. RO…

A: Cost of the product = markup / markup %

Q: Use the trade discount system shown in the table to calculate the cost of 500 lbs of product if the…

A: Trade discount: The discount that is provided by the manufacturer or wholesaler to a wholesaler or…

Q: 1. A watch store owner decided to offer 20% discount for a particular brand of watch that sells at…

A: Gross profit is the profit earned by the company from their operating activities. It can be…

Q: mpresas Alcapurrias reaches its break-even point when it sells 20,000 units, if the sale price is $…

A: Formula: Break even point = Fixed cost / Contribution margin

Q: Maintained markup is 42 percent, gross sales are 32,000 O.R, and reductions are 5,000 O.R. What is…

A: Maintained markup is 42 percent, gross sales are 32,000 O.R, and reductions are 5,000 O.R. Cost of…

Q: A product with the cost of R150 is selling for R200 what are the mark up percentage and gross margin…

A: Markup percentage is the gross profit expressed as a percentage of cost. Gross profit is derived by…

Q: A buyer plans to sell a certain group of shirts in his store for $24 each. He needs to achieve a 45%…

A: The cost of shirt can be calculated as the difference of selling price and the markup amount.

Q: Assume markup is based on cost. Find the dollar markup and selling price for the following problem.…

A: Sale price means the price at which an item is sold out. It can be found out by adding markup or…

Q: What is the cost of a shirt sold at P150 if the markup rate is 35% of the selling price? 3. What is…

A: Markup is the selling price of a product less its cost. It can be on the basis of cost or on the…

Q: What would be the net profit of JMT Marketing after selling 100 pairs of KD 12 shoes. Each shoes…

A: Answer) Calculation of Net profit (loss) Net Profit (loss) = Sales value of 80 units + Sales value…

Q: The markup on a TV should be 54% based on selling price. If the seller paid $230 for one, then how…

A: Cost of TV = $ 230 Mark up = 54% on selling price

Q: 2. A jacket which costs PhP1,350 is being sold at PhP2,025. What is the rate of mark-up based on…

A: >Markup is the amount of difference between Cost and the selling price of a product. >Cost is…

Q: (10] Suppose a retail seller ofjeans currently has 40 customers. The retailer offers the following…

A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…

Q: Farrington Shoes buys shoes from a supplier at $78 each, less trade discounts of 20% and 5%.…

A: Break even price =Fixed Cost /Profit Volume Ratio Fixed Cost=30%*regular selling price…

Q: Suppose consumers will purchase q units of a product at a price of 100/q+7 dollars per unit. What is…

A: Revenue can be defined as the amount earned from daily business transactions, sale of goods and…

Q: Sunland Company has received a shipment of suits that cost $320 each. If the company uses cost-plus…

A: Selling Price = Cost + Markup (%)

Q: A jacket costs $150 . What is the selling price if the markup is 45% of the selling price

A: Given, Cost = $150 Markup = 45% on Selling Price We know, Cost + Markup = Selling Price

Q: The markup on a TV should be 52% based on selling price. If the seller paid $192 for one, then how…

A: The markup on a TV should be 52% based on selling price. If the seller paid $192 for one. Required…

Q: A clothing company has determined that if the price of a T-shirt is K40, then 150 will be demanded…

A: When Price (P) = 40, Demand (Q) = 150 When Price (P) = 45, Demand (Q) = 100 Let the price demand…

Q: An item that cost the dealer $350 less 35% and 12.5% carries a regular selling price on the tag at a…

A: Item that cost the dealer $350 less 35% and 12.5%. Selling price on the tag at a markup of 150% of…

Q: A) What is the EOQ? B) If they order 1000 at a time, what are total ordering and holding costs per…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: A shoes has a selling price of 1,100 and a mark up of 150 . What is the cost? What is the mark up…

A: Cost = Selling price - mark up = 1,100 - 150 = 950

Q: Bellingham Suit Co. has received a shipment of suits that cost $200 each. If the company uses…

A: Cost = $200 Markup = $200 x 60% = $120

Q: A bag has a cost of 400 and a mark up rate base on cost of 25%. What is the selling price, mark up…

Q: Sears is having a 33% off sale. If a lawn mower has a tag price of $650, how much is the new lower…

A: Tag price = $650 Discount rate = 33%

Q: If the mark-up on cost is 20%, please and the selling price(Excl. VAT) is R600, which of the…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: The cost price of hand phone is RM 3700. If the seller wants a 15% mark-up based on cost price, find…

A: The retail price is the final price that a good is sold to customers for, those being the end users…

Q: A retailer buys 100 blouses for $55.50 each, plans a 60% markup on cost. What is the price of one…

A: Given, Cost = $55.50 Markup on Cost = 60%

Q: The demand for Clean-Well company's product charges P30 per liter, how much revenue the company will…

A: Answer- Consumer surplus is the maximum price that a consumer of the good is willing to pay for a…

Q: Homeward Hardware buys cat litter for $6 less 20% per bag. The store's overhead is 45% of cost and…

A: Price = $6 Discount on price = 20% Overhead cost = 45% Required profit = 20%

Q: Calculate the gross margin for a product with a cost price of R350 that is selling for R503.13…

A: Cost price and Selling price of a product has been given and gross margin has been asked. Cost…

Q: A clothing store buys scarves for $30.00 less 54% for buying over 50 pairs, and less a further 17…

A: Markdown are the reduction from selling prices and markups are the increase in selling prices.

Q: After the markup of 25% on sales a watch is sold for Rs.1250 , what is its cost?

Q: f 2 liter Bubbly-Cola products cost Speedy $16.20 per case of 24 bottles, what is the amount of the…

A: The selling price per unit is the sum of money paid by a buyer for one unit of a product. For…

Q: Given: Selling Price per Pair is $50 Variable Cost per Pair is $35 Fixed Cost is $125,000 4.…

A: The break even sales are the sales where business earns no profit no loss during the period.

Q: What is the total percent discount?

A: Total Percentage of discount = 44%

Q: QUESTION 1 Izdham sell watches at RM10 each and his variable costs (ie plastics and metal) is RM3…

A: "Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Hi! I would like to know if how to solve this one. Help me please, thanks! If the sales this year…

A: Sales amount during this year changes in comparison to the previous year because of change in sales…

Q: What is the pricing equation and how is it used? If the product list price is $1000 and the retailer…

A: The pricing decision is the crucial decision for the business, the management has to explore…

Q: 5. If the markup on a washing machine is 53% based on selling price, what is the corresponding…

A: Comment We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Jason Bradley is looking at a lawnmower priced at $279.95, which is 40% off the original price. What…

A: Price after off = $ 279.95 Off rate = 40%

Q: If the sales this year amounted to P500,000, sales this year at last year’s prices is P460,000. The…

A: Gross Profit Variation:-When actual sales get to subtract from the cost of goods sold or projected…

Q: a. A retailer buys flowers at ₱1,400 per bouquet. She sells them for ₱2,000 per bouquet. How much is…

A: When the manufacturer sells products to the consumers, he adds a Markup to the cost price and then…

Q: 1. Aling Ana would like to sell little trinkets she purchased from Divisoria fo PhP12 each. If the…

A: The answer is stated below: Note: Answering the first question as there are multiple…

Q: drive at Php 320 is equal to 7/5th of the profit obtained by selling the same flash drive at Php…

A: The cost price can be calculated by comparing the profits under the two alternatives.

Q: are sol at specia ty shops aidens per year. Costs to manufacture and sell e $ 5.00

A: Opportunity cost is the profit lost if one decision is chosen over the other. New Iberian Corp…

Question

100%

2. What is the cost of a shirt sold at P150 if the markup rate is 35% of the selling price? 3. What is the markup rate based on selling price if markup rate on cost is 10%?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Financial Reporting in Hyperinflationary Economies

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

A jacket costs $150 . What is the selling price if the markup is 45% of the selling price
A product with the cost of R150 is selling for R200 what are the mark up percentage and gross margin respectively
The markup of a product is RO 90. If the markup is 45% of selling, what is the cost? a. RO 200 b. RO 110 c. RO 150 d. RO 40
The price of office furniture is $20000. The series discounts are 20%, 10%, and 5%.What is the net price?
The retailer price of a refrigiretor is £807. If the manufacturer gains 11%, the wholesale dealer gains 10% and the retailer gains 6%, what is the cost of the product? Round your answer to the nearest penny.
Togo clothes sells suits. The average selling price is $1000 per suit, variable cost are fixed at $400 !,$ fixed costs are $90000. How many suits must Togo sell to yield after net income of $18000, assuming the tax rate is 40%
1. Maintained markup is 42 percent, gross sales are 32,000 O.R, and reductions are 5,000 O.R. What is the initial markup as a percentage? Show calculations: 2. Zara retailer buys each SKU of “Winter Jacket” from its supplier for 80 O.R. and sets a markup percentage of 33.33%, calculate the suggested retail price for this SKU? Show calculations:
A retailer buys 100 blouses for $55.50 each, plans a 60% markup on cost. What is the price of one blouse?
Runners has decided to purchase products with a list price of $708.60 and a trade discount of 10%. What is the amount of discount on the products? your answer(s) should be rounded to the nearest cent.
Calculate the gross margin for a product with a cost price of R350 that isselling for R503.13 (incl. VAT)
Given the following, calculate the net price of the purchase by a customer who buys 1,000 cases of product and pays the supplier within 15 days of shipment. What is the total percentage discount on the sale? Cost of product: $75.00 per case Trade discount: $5.00 per case Quantity discount: 1.5% for each 500 cases Performance allowance: 5% Cash discount: 2/10, net 30
A dress has a selling price of 600 and a mark up rate based on selling price of 22%. What is the cost? What is the mark up? What is the mark up rate based on cost ?