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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Solve the following word problems. Round dollars to the nearest cent and percents to the nearest tenth of a percent.

Alarm clocks cost the manufacturer $56.10 per unit to produce. If a markup of $29.80 is added to the cost, what is the selling price per clock?

To determine

To calculate: The selling price per clock if it cost the manufacture $56.10 per unit to produce and markup cost is $29.80.

Explanation

Given Information:

Cost of manufacturing the alarm clock is $56.10 per unit and markup cost is $29.80.

Formula used:

The selling price of an item can be determined by adding the cost and mark-up cost. The equation is;

SP = C + M…… (1)

Calculation:

The mark-up cost and the cost-price of the alarm clock is $29.80 and $56.10 respectively

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