A. Solve the following problems (round off 2 decimal places):1. A 32" LCD Television with a cost of P24,900 has a markup rate of 25%. Find theselling price.2. A manufacturer sells his notebooks for P41.75 and his cost in producing each notebookis P35.25. What is the markup?3. A certain product sold for P29,900 has a 14% markup on cost. How much is the costof the product?4. The manager of a clothing store buys a jacket for $850 and sells the jacket for $1.207.Find the markup rate based on cost and based on selling price.5.If the percentage of cost markup is 25.4%, what would the percentage of selling pricemarkup be?

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1. A 32" LCD Television with a cost of P24.900 has a markup rate of 25%. Find the selling price.

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

A. Solve the following problems (round off 2 decimal places):
1. A 32" LCD Television with a cost of P24,900 has a markup rate of 25%. Find the
selling price.
2. A manufacturer sells his notebooks for P41.75 and his cost in producing each notebook
is P35.25. What is the markup?
3. A certain product sold for P29,900 has a 14% markup on cost. How much is the cost
of the product?
4. The manager of a clothing store buys a jacket for $850 and sells the jacket for $1.207.
Find the markup rate based on cost and based on selling price.
5.
If the percentage of cost markup is 25.4%, what would the percentage of selling price
markup be?

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