11. It cost a singer-songwriter $67,300 for all of the expenses to engineer, record, mix, and promote a new music disc. The cost also included the manufacturing of 5000 discs. Assume each disc sells for $20. Find (a) the markup in dollars, (b) the markup as a percent of cost to the nearest tenth of a percent, and (c) the markup as a percent of selling price to the nearest tenth of a percent.

11. It cost a singer-songwriter $67,300 for all of the expenses to engineer, record, mix, and promote a new music disc. The cost also included the manufacturing of 5000 discs. Assume each disc sells for $20. Find (a) the markup in dollars, (b) the markup as a percent of cost to the nearest tenth of a percent, and (c) the markup as a percent of selling price to the nearest tenth of a percent.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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