Xavi is a painter of landscapes and seashore portraits. He works outside and has no overhead or fixed costs such as a studio. In a typical year, it costs him $183 in canvas, paints and brushes per painting. This year he sold 511 pictures at a price of $245 each. At the current selling price, what is his percent margin?
Xavi is a painter of landscapes and seashore portraits. He works outside and has no overhead or fixed costs such as a studio. In a typical year, it costs him $183 in canvas, paints and brushes per painting. This year he sold 511 pictures at a price of $245 each. At the current selling price, what is his percent margin?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Xavi is a painter of landscapes and seashore portraits. He works outside and has no overhead or fixed costs such as a studio. In a typical year, it costs him $183 in canvas, paints and brushes per painting. This year he sold 511 pictures at a price of $245 each.
At the current selling price, what is his percent margin?
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