An answering machine cost a dealer $220.00 less 31.5%, 7%. It is regularly priced at $212.00. The dealer's overhead is 17% of the regular selling price and the answering machine was cleared out for $175.45. What is the regular markup based on selling price? Round to nearest 100th

An answering machine cost a dealer $220.00 less 31.5%, 7%. It is regularly priced at $212.00. The dealer's overhead is 17% of the regular selling price and the answering machine was cleared out for $175.45. What is the regular markup based on selling price? Round to nearest 100th

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter3: Cost Behavior

Section: Chapter Questions

Problem 28E

See similar textbooks

Related questions

Q: 8. House of Furniture, Inc., purchases from a well known manufacturer and sells them at the retail…

A: Income statement: It is one of the financial statements prepared by an organization. This statement…

Q: Text Tech has bought a product from their supplier for $2,372 with discounts of 30% and 5%. For full…

A: As per the bartleby guidelines, in case of interlinked question answer first 3 only 1) Cost after…

Q: Sales salaries and commissions are $10,000 when 80,000 units are sold, and $14,000 when 120,000…

A: A high low method is used to separate the mixed cost into fixed cost and variable cost. In this…

Q: annual incremental costs of Sunday openings are estimated at P31,200. National’s contribution margin…

Q: An office supply store adds a $2.50 markup to calculators and sells them for $6.95. (a) What is the…

A: In this question we need to compute the cost of the calculators and percent markup based on cost.

Q: What is the monthly break-even point of a restaurant that sells meals at R$60.00 per kilo, with the…

A: The break-even point is the sales volume at which there is no profit and no loss. It is computed as…

Q: Handy Home sells windows and doors in the ratio of 8:2 (windows:doors). The selling price of each…

A: Break Even Point - It is point at which, business generate equal amount profit against the cost…

Q: If BEP in dollars is $730,000, and average sale per customer is $5, then what is the number of…

A: given that, BEP in dollars = $730000 Average sales per customer = $5 a number of customers required…

Q: Standard Appliances obtains refrigerators for $1,520 less 28% and 7%. Standard's overhead is 16% of…

A: Since you have posted a question with many sub-parts, we will solve three sub-parts for you. To get…

Q: Price Company sells its product for $100 per unit. The company's accountant provided the following…

A: Total fixed costs = Manufacturing costs + Selling costs + Administrative costs = $35,000 + $15,000 +…

Q: For a table manufacturing company, selling price for a table is $61.00 per Unit, Variable cost is…

A: Fixed Cost: As the name itself suggests, the cost will be fixed whether production activity is…

Q: For a manufacturing company, selling price for an item is $471.00 per Unit, Variable cost is $222.00…

A: Contribution margin is considered as the difference between the sale price and the variable cost per…

Q: Atlas Company sells only one product at a regular price of $10.00 per unit. Variable expenses are…

A: Break-even analysis is a technique used widely by production management. It helps to determine the…

Q: How many customers and what revenue will the resturant need each month to break even? The monthly…

A: Break-even analysis is a technique widely used by the production department. It helps to determine…

Q: An answering machine cost a dealer $220.00 less 31.5%, 7%. It is regularly priced at $212.00. The…

A: Answering machine cost = $220 Less- Discount @ 31.50% = $69.30 Machine cost after discount = $220…

Q: Markson and Sons leases a copy machine with terms that include a fixed fee each month of $500 plus a…

A: The high low method is used to find the fixed cost and variable cost from the mixed cost.

Q: Sales salaries and commissions are $10,000 when 80,000 units are sold, and $14,000 when 120,000…

A: The high low method is used to find variable and fixed cost from the mixed cost.

Q: The following data relate to a company that produces and sells a travel guide that is updated…

A: Contribution margin ratio is the ratio of contribution per unit to sales per unit. It can be…

Q: If Romeo's Racket Ball business has sales for the month of 10,000 racketballs and a racketball sells…

A: To derive accounting profit, all the expenses that are directly a part of company's operations are…

Q: Wimpy Inc. produces and sells a single product. The selling price of the product is $230.00 per unit…

A: Contribution = Selling Price - Variable Cost = $230 - $78.20…

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: rank's Factories has a staff of sales people like Anthony, who receives a monthly sa 23,300.00, what…

A: The gross pay for Anthony can be computed as follows: Gross pay = Basic pay + Incremental comision…

Q: Mauro Products distributes a single product, a woven basket whose selling price is $23 per unit and…

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

Q: Maple Enterprises sells a single product with a selling price of $90 and variable costs per unit of…

A: Break even point is the number of units sold to earn no profit or no loss in the business. The more…

Q: Fruit Sushi Corporation sells delicious fruit sushi at a wholesale price of $4.50 per unit. The…

Q: Last month Bryn Company had a $45,057 profit on sales of $296,632. Fixed costs are $72,308 a month.…

A: Contribution Margin = Fixed Costs + Net Income. Contribution Margin Ratio = (Fixed Costs + Net…

Q: Given the following, calculate the net price of the purchase by a customer who buys 1,000 cases of…

A: Cost of product = $75.00 per case Total cost = $75 x 1000 = $75,000 Trade discount = $5 x 1000 =…

Q: It costs Furniture's Manufacturing $0.45 to produce baseballs and Furniture sells them for $4.00 a…

A: A Contribution Margin Income Statement is a statement in which revenues and variable costs are…

Q: How do I compute the breakeven point in tickets and in sale dollars? Thrills sells tickets at $50…

A: The output level at which total revenues equal entire expenses is known as the break even point. To…

Q: The cost of a window air conditioner was $420 and had a markup on cost percentage of 45%. During a…

A: Cost Price=$420 Marked price=$420×145100=$609 Required overheads profit=35% of cost=35100×$420=$147…

Q: The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of…

A: Accounts receivable for 60 days = Sales per month x 2 months = 25000 x 2 = P50,000

Q: 6. Wholesale Distributors sells to its contractors with a 42% markup on cost. If the selling…

A: The markup is calculated as a percentage on cost and added to the cost price to arrive at selling…

Q: The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of…

A: Solution Given Cost of product 30% of selling price Carrying cost 8% of selling price…

Q: Fruity Pebbles Apparel sells fruit themed shirts at $58.00 per shirt. It incurs monthly fixed costs…

A: Formula: Contribution margin ratio = Contribution margin / Sales

Q: A company makes and sells ornamental vases. To make the vases there is a fixed monthly cost of…

A: Break-even point- It is a point at which a company incurs no losses and earns no profits during a…

Q: Waterway Industries produces flash drives for computers, which it sells for $26 each. The variable…

A: Break-Even Sales: Sales volume required to cover the fixed and variable costs and left out with…

Q: Snickle currently sells hot dogs. The selling price per hot dog is $2 and the variable cost per hot…

A: Contribution margin per hot dog = selling price per hot dog - variable cost per hot dog = $2 - 0.70…

Q: The break-even in monthly dollar sales is closest to

A: 1. Break-even units: = Fixed cost per month/contribution per unit 2. Break-even sales dollar:…

Q: Austin Avenue Clothiers pays $52 each for sports coats and has a fixed monthly cost of $780. The…

A: There are two type of costs being incurred in business. One is fixed costs and other is variable…

Q: The Monty Corporation has a staff of sales people who are paid a monthly salary of $1,800.00 plus an…

A: Gross pay refers to the payment without the consideration of tax. The gross pay of an individual…

Q: Front Range Cabinet Distributors in Colorado Springs, Colorado, sells to its contractors with a 48%…

A: Selling Price = Cost + Markup where, Markup = Cost x Markup %

Q: A company manufacturing electronics equipment purchases transistors at Rs . 41 per unit. The annual…

A: Economic Ordering Quantity: It refers to the size of the order which gives maximum economy in…

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: Majan Business Solutions Company pays its employees on the below graduated commission scale: Sales…

A: The company provides the salary to its employees on a commission basis also. Mostly the sales…

Q: Standard Appliances obtains refrigerators for $1,640 less 27% and 6%. Standard's overhead is 18% of…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: ow many T-shirts must the company sell this year in order to earn $56,640 in net income? (Use the…

A: Working: 1) Contribution Per Unit = $20 - $8.50 = $11.5 per…

Q: LYD Corp. receives an order from a new customer, amounting $55,000. LYD Corp. uses 45-day credit…

A: In order to make decision on feasibility of a customer order, we are required to calculate the net…

Question

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 Calculation of regular markup based on selling price:

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

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

Cadre, Inc., sells a single product with a selling price of $120 and variable costs per unit of $90. The companys monthly fixed expenses are $180,000. What is the companys break-even point in units? What is the companys break-even point in dollars? Prepare a contribution margin income statement for the month of October when they will sell 10,000 units. How many units will Cadre need to sell in order to realize a target profit of $300,000? What dollar sales will Cadre need to generate in order to realize a target profit of $300,000? Construct a contribution margin income statement for the month of August that reflects $2,400,000 in sales revenue for Cadre, Inc.
Markson and Sons leases a copy machine with terms that include a fixed fee each month of $500 plus a charge for each copy made. The company uses the high-low method to analyze costs. If Markson paid $360 for 5,000 copies and $280 for 3,000 copies, how much would Markson pay if it made 7,500 copies?
Marlin Motors sells a single product with a selling price of $400 with variable costs per unit of $160. The companys monthly fixed expenses are $36,000. What is the companys break-even point in units? What is the companys break-even point in dollars? Prepare a contribution margin income statement for the month of November when they will sell 130 units. How many units will Marlin need to sell in order to realize a target profit of $48,000? What dollar sales will Marlin need to generate in order to realize a target profit of $48.000? Construct a contribution margin income statement for the month of February that reflects $200,000 in sales revenue for Marlin Motors.
Maple Enterprises sells a single product with a selling price of $75 and variable costs per unit of $30. The companys monthly fixed expenses are $22,500. What is the companys break-even point in units? What is the companys break-even point in dollars? Construct a contribution margin income statement for the month of September when they will sell 900 units. How many units will Maple need to sell in order to reach a target profit of $45,000? What dollar sales will Maple need in order to reach a target profit of $45,000? Construct a contribution margin income statement for Maple that reflects $150,000 in sales volume.
Kerr Manufacturing sells a single product with a selling price of $600 with variable costs per unit of $360. The companys monthly fixed expenses are $72,000. What is the companys break-even point in units? What is the companys break-even point in dollars? Prepare a contribution margin income statement for the month of January when they will sell 500 units. How many units will Kerr need to sell in order to realize a target profit of $120,000? What dollar sales will Kerr need to generate in order to realize a target profit of $120,000? Construct a contribution margin income statement for the month of June that reflects $600,000 in sales revenue for Kerr Manufacturing.
An answering machine cost a dealer $220.00 less 31.5%, 7%. It is regularly priced at $212.00. The dealer's overhead is 17% of the regular selling price and the answering machine was cleared out for $175.45. What was the rate of markdown at which the answering machine was sold? Round to nearest 100th
A distributor sells water cooling units for $860 each. The operating profit is 25% on cost and markup is 60% on cost. a. Calculate the cost per cooling unit. Round to the nearest cent b. Calculate the rate of markdown offered during a sale if it made a profit of $51.40 per machine. % Round to two decimal places c. What should be the rate of markdown offered to sell the machines at the cost price? % Round to two decimal places
Standard Appliances obtains refrigerators for $1,640 less 27% and 6%. Standard's overhead is 18% of the selling price of $1,710. A scratched demonstrator unit from their floor display was cleared out for $1,365. a. What is the regular rate of markup on cost? %Round to two decimal places b. What is the rate of markdown on the demonstrator unit? %Round to two decimal places c. What is the operating profit or loss on the demostrator unit? Round to the nearest cent d. What is the rate of markup on cost that was actually realized? %Round to two decimal places
How do I compute the breakeven point in tickets and in sale dollars? Thrills sells tickets at $50 per person as a one day entrance fee. Variable costs are $28 per person, and fixed costs are $166,500 per month
A department store paid $32.57 for a dinner plate set. Overhead expense is 15% of the regular selling price and profit is 23% of the regular selling price. During a clearance sale, the set was sold at a markdown of 41%. What was the operating profit or loss on the sale?
The Kidz Klothing store ordered a line of snowsuits at $60 each, less a trade discount of 8%. The selling price is marked up to allow for overhead expenses of 15% of the cost price, and profit of 25% of the cost price. a) What was the regular selling price of the snowsuits? b) If the snowsuits are sold for a reduced price of $59, what is the profit or loss perpair? c) What is the rate of markdown of the snowsuits?
6. Wholesale Distributors sells to its contractors with a 42% markup on cost. If the selling price for cabinets is $9,182, what is the cost to contractors based on cost? (Round your answer to the nearest cent.)