A purchaser paid $287.70 for a TV that cost the seller $210. If the seller's markup was 37% of the $210 cost, then what would be the percent markup based on the selling price? (Round your answer to the nearest tenth of a percent.)

A purchaser paid $287.70 for a TV that cost the seller $210. If the seller's markup was 37% of the $210 cost, then what would be the percent markup based on the selling price? (Round your answer to the nearest tenth of a percent.)

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 10MC

See similar textbooks

Related questions

Q: A high-definition TV costs a company $3,100 to manufacture, If it sells for $6,742, what is the…

A: Solution: Markup is the difference between the selling price of a good or service and cost. It is…

Q: Royal Furniture bought a sofa for $990. The sofa had a $1,590 list price. What was the trade…

A: Trade Discount = [ List Price - Sales Price ] / List Price

Q: A wholesaler sells a guitar for $1,212.70. What is the percent markup based on cost if the…

A: The excess amount of selling price over the cost price of the goods and services is term as the…

Q: Assume you are a salesperson earning 10 percent commission and you have sold $540,000 in products…

A: The conceptual formula used:

Q: eaner and sels each What is the percent markup based on selling price? Shurgurado Lhines decided to…

A: a) Calculation of percent markup = (4499.5 - 1,875) ÷ 4,499.5 = 58.33%

Q: at is the selling price of a dining room set at Macy's? Assume actual cost is $840 and 55% markup on…

A: Solution.. Cost = $840 Markup % = 55% of selling price

Q: Sheridan Service sells oil at a markup of 50% of the selling price. Sheridan paid $0.85 per litre of…

A: Markup = 50% Cost per litre = $0.85

Q: The selling price for a fishing boat is $9,572.39. What percent of the sale price is the markup if…

A: Markup: It implies to the extra amount that is added to the cost of the goods to make them…

Q: A buyer bought 200 skirts that retailed at $25 each. At the end of the season, 15 unsold skirts were…

A: Given, Retail Price = $25 Markdown Price = $14.99 Markdown = $10.01

Q: The selling price for a fishing boat is $9,592.39. What percent of the sale price is the markup if…

A: Markup = Sales price - cost = $9,592.39 - $6,800 = $2,792.39

Q: A purchaser paid $342.50 for a TV that cost the seller $250. If the seller's markup was 37% of the…

A: Markup means the profit percentage on cost price of selling price. Formula for markup on selling…

Q: A purchaser just paid $32,452.94 for a pickup truck. If 47% was the seller's markup, based on the…

A: Markup is the difference between a product's selling price and cost as a percentage of the cost.…

Q: The selling price for a fishing boat is $9,692.39. What percent of the sale price is the markup if…

A: Given, Selling price = $9692.39 Cost = $6800

Q: A dealer bought personal computers for $1850 less 32%, and 17%. They were sold for $1575. What was…

A: Given: Cost of computer $1,850.00 Discount 32% Discount 17%

Q: If the retailer pays $1.30 to the insurance company for each product replacement policy sold, what…

A: Here, the total cost includes the product cost and the cost to the insurance company per product.…

Q: 7. for the following please figure out the percentage or money amount: a.The percent markup on a…

A: As per our guidelines we are supposed to answer only one question (if there are multiple questions…

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: 10. Icelandic skis are marked up 75% on cost. What is the equivalent rate of markup based on…

A: The markup on selling price can be calculated as ratio of markup amount and selling price

Q: Shoecraft earns a 42% contribution margin as percent of selling price, What is Shoecraft's ANNUAL…

A: Step 1 Profit is the difference between sales and cost of sales of all the sales made by the entity…

Q: Eveready Co. sells heavy-duty batteries, which cost P7,000, at a total installment price of P12,000.…

A: Trade-in over allowance Trade-in over allowance is the additional discount offered to the customer…

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 wholesaler sells a guitar for $1,396.20. What is the percent markup based on cost if the…

A: The markup reveals how much greater a firm's selling price is over the item's cost to the business.…

Q: The selling price for a fishing boat is $8,552.39. What percent of the sale price is the markup if…

A: Given: Selling price = $8,552.39 Cost of fishing boat = $6,400

Q: Nicolas Appliance Center has purchased electric fans for Php 800 each The electric fans are marked…

A: The markup is the difference between the selling price and cost price of a product. Markup…

Q: Suppose a certain car audio manufacturer receives an order of a certain brand of satellite radios…

A: There are three consecutive discounts are given here, the ne price factor can be calculated by using…

Q: A shopkeeper pays 24 RO VAT. He sells the product to the customer for 730 RO. The sales tax is 8%.…

A: Price Charged to Customer = 730 RO VAT Rate = 8% Price charged to customer is inclusive of VAT/Sales…

Q: A manufacturer produced a good with a value of 300, the retailer added 140 to the value of the good.…

A: The final price to the consumer is shown hereunder : Manufacturer produced a good with a value of…

Q: The regular price of a TV is $1,147 but it is marked down by 32%. What is the sale price? (round…

A: Sale price = $1147 Marked down = 32% Formula Sale price = Regular price*(1-Mark down ratio)

Q: commission of 8 of the selling price of each stormm window and 12% of the selling price of each doo…

A: Given, The sales of storm windows is $5,400. The sales of doors is $28,700.

Q: 1. A trading firm traded their brand-new computers with a margin of 65% based on their cost. One…

A: Since there are multiple questions, we will solve first for you. To get the remaining questions…

Q: The Georgia Company sells inventory but also allows returns. Georgia sells items for $100 per item.…

A: The transaction, which is measurable in monetary terms, is an economic event with a third party…

Q: sold. (a) What was the weighted mean price of an Antonelli suit? (b) Springers paid $200 a suit for…

A: Profit is the amount left after paying expenses from the revenue earned.

Q: Suppose you sell 8,000 of the 3 pack of lenses described in question 3 above in one year. You cost…

A: Net income is the overall income earned by the company during the accounting period. It includes…

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

Q: ealer bought personal computers for $1850 less 32%, and 17%. They were sold for $1575. What was the…

A: Dealers purchases the computers in large quantity and based on the quantity they get discounts and…

Q: A wholesaler sells a guitar for $1,427.40. What is the percent markup based on cost if the…

A: Markup = Sales price - Cost price = $1427.40 - $780 = $647.40

Q: Suppose a certain car audio manufacturer receives an order of a certain brand of satellite radios…

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

Q: A salesman gets P10,000 commission on a sale of a item. This amount raised his average commission by…

A: Average It is the sum of all values divided by the number of values. For example, there are three…

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: All refrigerator cost a company $1,600 to manufacturer. If it sells for $3,456, what is the percent…

A: Markup of the cost is the amount that is added to the actual cost of the product to determine its…

Q: Macy's was selling Calvin Klein jean shirts that were originally priced at $41.00 a. What was the…

A: Amount of markdown is the difference between original selling price and actual selling price.…

Q: The selling price for a fishing boat is $9,632.39. What percent of the sale price is the markup if…

A: Given: Selling price of fishing boat is: $9632.39 Cost of fishing boat was: $6400 To compute:…

Q: sales. He sold goods worth RO 15,000 in a month. What is his gross pay if he takes a draw of RO 500?…

A: Ans. In case a person takes a draw from his gross pay then from the amount which is due to him, the…

Q: 4.A wholesaler sells a guitar for $1,396.20. What is the percent markup based on cost if the…

A: Profit is an important source to generate the internal finances for the business or any individual.…

Q: 3.) A wholesaler sells a guitar for $1,396.20. What is the percent markup based on cost if the…

A: Markup is the difference between a product's selling price and a cost as a percentage of the cost.…

Q: Waramy carpets has a policy of keeping a margin of 77% on their regular price carpets. On a recent…

A: First we need to calculate regular selling price by using this Regular selling price =new selling…

Q: 1. A lawnmower that normally sells for $350 is on sale for 25 percent off. What is the sales price…

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

Q: The selling price for a fishing boat is $9,532.39. What percent of the sale price is the markup if…

A: The selling price for a fishing boat is $9,532.39. the cost of the fishing boat was $6,600 the…

Question

Expert Solution

Step 1: Introduction

Markup is the difference between a product's selling price and cost as a percentage of the cost. For example, if a product sells for $125 and costs $100, the additional price increase is

$= \frac{($ 125 - $ 100)}{$ 100} = 25 %$

The formula to calculate percent markup based on the selling price:

$P e r c e n t m a r k u p b a s e d o n t h e s e l l i n g p r i c e = \frac{S e l l i n g P r i c e - C o s t}{C o s t}$

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

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

Similar questions

The markup on a TV should be 54% based on selling price. If the seller paid $230 for one, then how much should it be sold for (in $) to achieve the desired markup
A wholesaler sells a guitar for $1,380.60. What is the percent markup based on cost if the wholesaler paid $780 for the guitar?
The markup on a ysed car was at least 30% ofnits current wholesale price. If the car was sold for $11,050 what was the maximum wholesale price?
What is the regular selling price of an item purchased for $1270 if the markup is 20% of the regular selling price?
A home costs $148,500 to build and is sold for $168,000. What is the percent markup on selling price to the nearest tenth of a percent?
A discount store purchased mobile phones at a cost of P28,800 per dozen. If they need 20% of cost to cover operating expenses and 15% of cost for the net profit, what is (a) the selling price per phone and (b) the percent of markup on selling price?
A dealer bought personal computers for $1850 less 32%, and 17%. They were sold for $1575. What was the markup as a percent of the cost?
suppose you sell 8,000 of the 3 pack lenses described in question 3 above in one year. You cost on each 3 pack is $29.95 and you sell them for $59.95. if your operating expenses for the year total $144.080, what are your Net Income and Net profif margin percentage?
The markup on a video game is 15% of the sale price. If the video game sells for $58.82, what was the cost (in $)? (Round your answer to the nearest cent.)
Ace Hardware buys brushes at a wholesale price of PhP 380 each. If the selling price is PhP 627, what is the markup rate?
Suppose you sell 8,000 of the 3 pack of lenses described in question 3 above in one year. You cost on each 3 pack is $29.95 and you sell them for $59.95. If your operating expenses for the year total $144,080, what are your Net Income and Net Profit Margin Percentage?
Tracey paid $130 for an item that was originally priced at $550. What percent of the original price did Tracey pay? Round to the nearest tenth of a percent.