1. Aling Ana would like to sell little trinkets she purchased from Divisoria fo PhP12 each. If the operating cost is set at 25% of the cost and she would lik have a 15% profit on the cost of each item, a. Determine the mark-up price for each trinket. b. Help Aling Ana determine the selling price for each trinket.

1. Aling Ana would like to sell little trinkets she purchased from Divisoria fo PhP12 each. If the operating cost is set at 25% of the cost and she would lik have a 15% profit on the cost of each item, a. Determine the mark-up price for each trinket. b. Help Aling Ana determine the selling price for each trinket.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Compute the total cost, expected profit, and selling price. Write your solution and answer on the…

A: Total Cost: It is the sum of all the costs incurred by a company in producing a certain level of…

Q: use the contribution margin approach.

A: Meaning of Contribution Margin Approach Contribution Margin approach is used to calculate the net…

Q: Ingrid is planning to expand her business by taking on a new product that costs $6.74. In order to…

A: Break even point :— It is the point of production where total cost is equal to total revenue. At…

Q: Q. # 6. Michelle bought belts for her boutique at a cost of $27.00 each. The belts were marked up so…

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

Q: Anna sells a certain pair of earrings at her store for $45.20 per pair. Her overhead expenses are…

A: Step 1:n/a Step 2: Step 3: Step 4:

Q: 3. Julia buys a notebook with a cost of PhP45. The rate of mark-up based on cost is 25%. Find the…

A: >Markup is the amount added to the cost to get the selling price. >It can be based on selling…

Q: Zachary owns a successful furniture distribution store. He purchases dining tab sets at $230 each…

A: Regulat selling price = cost price × 120%

Q: José Ruiz starts a company that makes handcrafted birdhouses. Competitors sell a similar birdhouse…

A: Planned Selling Price = Total Cost + (Total Cost X Markup)

Q: Susan is looking for the best deal on a king-size mattress that has a wholesale price of $439. Help…

A: A) Profit markup given by distributor = Wholesale price × Profit markup=$439 ×50%=$219.50 Amount…

Q: Kim works at a sports store and needs to determine the selling price for running shoes. The running…

A: Selling price as per target gross margin=Cost1-Target gross margin Selling price as per…

Q: Am.104.

A: To find the markup percentage of the wholesaler, we calculate the difference between the selling…

Q: Mary is a sales person for Challenge Furniture. She receives an incremental commission based on the…

A: Steps

Question

1.
Aling Ana would like to sell little trinkets she purchased from Divisoria for
PhP12 each. If the operating cost is set at 25% of the cost and she would like to
have a 15% profit on the cost of each item,
a. Determine the mark-up price for each trinket.
b. Help Aling Ana determine the selling price for each trinket.
2.
A jacket which costs PhP1,350 is being sold at PhP2,025. What is the rate of
mark-up based on cost?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Financial Reporting in Hyperinflationary Economies

Learn more about

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

Similar questions

Anna sells a certain pair of earrings at her store for $45.20 per pair. Her overhead expenses are $5.00 per pair and she makes 40.00% operating profit on selling price., Round to the nearest cent a. What is her amount of markup per pair of earrings? b. How much does it cost her to purchase each pair of earrings? Company A and Company B sell the same model camera for $110 and $135, respectively. During a sale, Company A offers a discount of 10% on the camera. What should Company B's rate of markdown be on the camera to match Company A's sale price?
a. For how much does Nicolas Appliance Center sell an electric fan? 2. Nicolas Appliance Center has purchased electric fans for Php 800 eac The electric fans are marked up 48% of the selling price. b. What is the rate of markup based on cost?
3. Julia buys a notebook with a cost of PhP45. The rate of mark-up based on cost is 25%. Find the selling price and the mark-up. Peter decides to impose a mark-up of PhP5 on each pen he sells to his classmates and friends. This represents a 20% mark-up based on the selling price. Find the cost and the selling price of the pens Peter sells. 5. A top costs Mang Mario PhP280 and he decides to mark it up by 30% of the selling price. Find the selling price and mark-up for the said top.
Charlotte sells widgets that cost $50 each to purchase and prepare for sale. Annual sales are 10,000 widgets, carrying costs are 15% of inventory costs, and Charlotte incurs a cost of $25 each time an order is placed. (a) What is the EOQ? (b) What will be the total inventory costs if the EOQ amount is ordered? (c) Suppose that Charlotte's supplier decides to offer a 3% cash discount if products are ordered in increments of 1250. How many widgest should Charlotte order each time an order is placed to minimize total inventory costs?
A buyer plans to sell a certain group of shirts in his store for $24 each. He needs to achieve a 45% markup over his cost . What should he pay his supplier per shirt in order to meet his goal ? (Round to the nearest cent.)
Suzanne sells authentic Amish quilts on her website. Suppose ss attached
Ivy purchases phones for $260.50 each and is selling them for $330.00 each. a. What is the rate of markup on cost? % Round to two decimal places b. What is the rate of markup on selling price?
Tech.doo purchases headphones for $16 but adds an additional 350% of that amount to the price tag. How much do customers pay?
José Ruiz starts a company that makes handcrafted birdhouses. Competitors sell a similar birdhouse for $265 each. Jose believes he can produce a birdhouse for a total cost of $225 per unit, and he plans a 20% markup on total cost. (a) Compute José's planned selling price. (b) Is José's price lower than competitors' price? Complete this question by entering your answers in the tabs below. Required A Required B Compute José's planned selling price. Seling price per unit (Required A Required B >
i want answer of this question please provide
Danisa has fixed expenses of R2 800 per month. He spends R18,53 to manufacture an item. b) Calculate a selling price based on the percentage mark-up of 15% on your cost price in a). What is his cost price per unit when he produces 100 units? Show your calculations. Classwork activity 3.2 a) Round the answer up to the next R5. c) Copy and complete the table. 46.53 peR UNILS 250 Total sold 100 10 50 Fixed expenses (R) 2 800,00 Variable expenses (R) Total expenditure (R) Income (R) Profit (R) d) (i) On the same set of labelled axes, draw the expenditure and income graphs. (ii) What does the point of intersection of the two graphs represent? (iii) Write down the approximate number of units sold at the point of intersection. Elana has monthly fixed expenses of R8 730,00. er variable costs to deliver a service is R93,16. Calculate the cost price per unit if she services 50 customers. Show your calculations. Calculate a selling price based on a percentage mark-up of 25%. Round the answer up…
Direction: Read and understand the given problem. Problem: Rhea is engaged in a buy-and-sell business of signature perfumes. She buys 10 boxes of perfumes. Each box costs 12,000.00 and contains a dozen of perfume bottles. She plans to sell one perfume bottle at P1,500. What is her expected profit on the 10 boxes of perfumes? Note: Getting the difference between the amount of money earned from selling 10 boxes containing a dozen of perfume bottles and the cost of those 10 boxes gives the profit." Еxplore! 1. How much profit does Rhea earn? 2. What do you think of Rhea's business? 3. Is it good for a beginner? Why? 4. What do you think should Rhea do in order to flourish in her business?