Rolf's Golf store sells golf balls for $27 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of 20% of cost. a. How much does Rolf's Golf store buy the golf balls for? _____________$ per dozen Round to the nearest cent b. What is the price needed to cover all the costs and expenses? _____________$ Round to the nearest cent c. What is the highest rate of markdown at which the store will still break even? _____________% Round to two decimal places d. What markdown rate would price the golf balls at cost? _____________% Round to two decimal places
Rolf's Golf store sells golf balls for $27 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of 20% of cost. a. How much does Rolf's Golf store buy the golf balls for? _____________$ per dozen Round to the nearest cent b. What is the price needed to cover all the costs and expenses? _____________$ Round to the nearest cent c. What is the highest rate of markdown at which the store will still break even? _____________% Round to two decimal places d. What markdown rate would price the golf balls at cost? _____________% Round to two decimal places
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Rolf's Golf store sells golf balls for $27 per dozen. The store's overhead expenses are 26% of cost and the owners require a profit of 20% of cost.
a. How much does Rolf's Golf store buy the golf balls for?
_____________$
per dozen
Round to the nearest cent
b. What is the price needed to cover all the costs and expenses?
_____________$
Round to the nearest cent
c. What is the highest rate of markdown at which the store will still break even?
_____________%
Round to two decimal places
d. What markdown rate would price the golf balls at cost?
_____________%
Round to two decimal places
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