Assume that markup is based on cost. Find the dollar markup and percent markup on cost for the following. Note: Round your "Dollar markup" answer to the nearest cent and "Percent markup on cost" to the nearest hundredth percent. $ Cost Selling price 24.60 16.40 $ Dollar markup Percent markup on cost %

Assume that markup is based on cost. Find the dollar markup and percent markup on cost for the following. Note: Round your "Dollar markup" answer to the nearest cent and "Percent markup on cost" to the nearest hundredth percent. $ Cost Selling price 24.60 16.40 $ Dollar markup Percent markup on cost %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

please help answer Complete the two tables below using the information provided and assume a VAT rate of 15%
pocket price calculation
Assume that markup is based on cost. Calculate the cost and selling price. Note: Round your answers to the nearest cent. Cost Selling price Dollar markup $ 6.00 Percent markup on cost 101.69 %
A utility bill consisting of a monthly base, plus an added amount based on usage, is classified as a: Question 2 options: fixed cost. mixed cost. curvilinear cost. variable cost.
A bag has a cost of 400 and a mark up rate base on cost of 25%. What is the selling price, mark up and mark up rate based on selling price? Please answer it completely.
Convert the following scores of different alternatives of a cost attribute to profit scores, each on a scale of 1 to 10: 80,000, 20,000, 70,000. (Report the sum of the resulting three profit scores). Report your answer to the nearest two dicimal places (e.g. 13.53 or 12.00)
Which will create the most favorable effect in gross profit? A. 10% increase in selling price B. 10% decrease in cost price C. 10% increase in both selling price and cost price D. 20% decrease in selling and administrative expenses
If Actual sales are OMR 490000, Total Fixed costs OMR 135000, Selling price per unit OMR 50, and Variable cost per unit OMR 35, which of the following shows Margin of Safety (MS) as amount and as percentage (on sales)? Select one: a. MS=40000 and MS (%)=8.16 b. MS=60000 and MS (%)=15.15 c. MS=72000 and MS (%)=16.42 d. MS=40000 and MS (%)=8.89
QUESTION 1 If the mark-up on cost is 20%, please and the selling price(Excl. VAT) is R600, which of the following amounts is the correct Cost Price(Excl. VAT)? O A. R100 OB. R580 O C. R575 O D. R500 QUESTION 2 Which one of the following statements with respect to VAT is false? O A. There is no indication of a VAT charge next to zero-rated item listed on an invoice. O B. In general, no input VAT claim is allowed by SARS on the purchase of a double-cab delivery vehicle. O C. The buyer of zero rated supplies will not get any refund from SARS for buying usch an item. O D. If a vendor sells only VAT exempt supplies, it may not register for VAT.
If Actual sales are OMR 620000, Total Fixed costs OMR 115000, Selling price per unit OMR 60, and Variable cost per unit OMR 45, which of the following shows Margin of Safety (MS) as amount and as percentage (on sales)? Select one: a. MS=43000 and MS (%)=8.16 b. MS=69000 and MS (%)=13.15 c. MS=45000 and MS (%)=7.26 d. MS=72000 and MS (%)=16.42
Here's the second part of the milestone if you could verify these numbers to being accurate?
Find the percent markup based on selling price, if the percent markup based on the cost is 18%.