What was the cost of the item to Aurora Supplies for this accounting question? Aurora Supplies sets its price equal to cost plus 50%. Recently, Aurora Suppliescharged a customer a price of $45 for an item. What was the cost of the item toAurora Supplies?a. $30b. $33.75c. $35d. $50

Step 1: Define Cost-Plus PricingCost-Plus Pricing is a pricing method where the selling price is…

Answered: Aurora Supplies sets its price equal to…

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

1. A product is listed for wholesale at $100. It's sold to a supplier with a 20% mark-up, and then resold to a customer with an additional 50% mark-up. How much has the item been marked up from the wholesale cost?
Home Depot sells a couch for $250.50. The dollar amount of markup on the couch is $95.72. Round all dollar values to two decimal places and percentages to two decimals (i. e 34.56%). a. What is the cost to Home Depot? [1 pt] b. What is the markup on selling percentage? 1pt
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?
An office supply store adds a $2.50 markup to calculators and sells them for $6.95. (a) What is the cost (in $) of the calculators? $ (b) What is the percent markup based on cost? (Round your answer to the nearest tenth of a percent.) %
1.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item Cost Amount ofMarkup Selling price Percent MarkupBased on Cost Hat $24.75 $30.00 $ % 2.A customer just paid $63.21 for a raincoat. If the percent markup based on cost is 47%, what was the cost (in $)?$ 3.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item PercentMarkupBased onCost PercentMarkupBased onSelling Price Flashlight % 55% 4.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item PercentMarkupBased onCost PercentMarkupBased onSelling Price Drill % 42%
ABC Merchandising buys merchandise costing P35,000 and returns P10,000 cost of the merchandise. If the term is 2/10, n/30 and the company pays the discount period, how much it should pay the seller? O a. P34,300 O b. P24,500 O c. P21,250 O d. P25,000
A store sells an item for $430 each. If this is a 64.5% markup on the selling price, find the equivalent markup percent on cost. Round to the nearest tenth of a percent. A. 181.7% B. 39.2% OC. 430% D. 110.4%
What amount will the gedgets be reported on the balance sheet for this general accounting question?
please help me solve both questions
A wholesaler purchases widgets for $8 per unit from the manufacturer and sells it to retailers who then sell to consumers. The wholesaler marks up by 20% on the retailer purchase price, while the retailers mark up by 25% on the wholesaler selling price. Here, the retail selling price to the consumer is: O $12.00 O $12.80 All the other 4 answers are correct. $12.50 O $13.33
What is the selling price of a dining room set at Macy's? Assume actual cost is $840 and 55% markup on selling price. (Round your answer to the nearest cent.) Selling price %$4
If merchandise is sold on account to a customer for 1000 terms FOB shipping point, 1/10, n/30 and the seller prepays $50 in transportation costs, the amount of the discount for early payment would be:

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Aurora Supplies sets its price equal to cost plus 50%. Recently, Aurora Supplies charged a customer a price of $45 for an item. What was the cost of the item to Aurora Supplies? a. $30 b. $33.75 c. $35 d. $50