Company X sets price equal to cost plus 60%. Recently, Company X charged a customer a price of $42 for an item. What was the cost of the item to Company X?
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- Company X sets price equal to cost plus 60%. Recently, Company X charged a customer a price of $42 for an item. What was the cost of the item to Company X? Help with thisCompany X sets price equal to cost plus 60%. Recently, Company X charged a customer a price of $42 for an item. What was the cost of the item to Company X?Company X sets price equal to cost plus 60%. Recently, Company X charged a customer a price of $42 for an item. What was the cost of the item to Company X? Accurate Answer
- Assume that mark up is based on cost... Please answer the accounting questionPlease Solve thisAssume that the linear cost and revenue models apply. An item costs $13 to make. If fixed costs are $1600 and profits are $5700 when 100 items are made and sold, find the revenue equation. (Let x be the number of items.)R(x) =
- You have the following information for Kingbird Diamonds. Kingbird Diamonds uses the periodic method of accounting for its inventory transactions. Kingbird only carries one brand and size of diamonds-all are identical. Each batch of diamonds purchased is carefully coded and marked with its purchase cost. March 1 March 3 March 5 March 10 March 25 Beginning inventory 180 diamonds at a cost of €368 per diamond. Purchased 240 diamonds at a cost of €420 each. Sold 224 diamonds for €720 each. Purchased 420 diamonds at a cost of €464 each. Sold 480 diamonds for €780 each.XYZ Company sells a product for $45 per unit. The cost of one unit is $36. The estimated cost to complete a unit is $8, and the estimated cost to sell is $5. At what amount per unit should the product be reported, applying lower-of-cost-or-net realizable value? 0 37 Ⓒ 49 0 36 O 32Assume that markup is based on cost. Find the dollar markup and percent markup on cost for the following. 1. Cost: $23.75 2. Selling Price: $29.50. Accounting