San De Marco Company has a very unique product with no real competitors, therefore theyuse cost plus pricing. They mark up their cost by 73% to set selling price. The cost of theirproduct is $433. What is the selling price of their product?Enter your answer by rounding to the nearest whole dollar. Don't enter dollar signs or commas.

Question
Asked Nov 3, 2019
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San De Marco Company has a very unique product with no real competitors, therefore they
use cost plus pricing. They mark up their cost by 73% to set selling price. The cost of their
product is $433. What is the selling price of their product?
Enter your answer by rounding to the nearest whole dollar. Don't enter dollar signs or commas.
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San De Marco Company has a very unique product with no real competitors, therefore they use cost plus pricing. They mark up their cost by 73% to set selling price. The cost of their product is $433. What is the selling price of their product? Enter your answer by rounding to the nearest whole dollar. Don't enter dollar signs or commas.

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Expert Answer

Step 1

Cost plus pricing is a method of setting selling price where, selling price is set by adding a markup percent to the cost of the product. The selling price is set by adding all the cost of product and markup percent on the cost of the product.

Step 2

Given:

Cost of the product is $433

Markup percentage is 73%

Selling...

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Selling price cost price +(cost pricex markup percent) $433 +($433x 73%) =$433 $316 = $749

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