Exam 12: Markups and Markdowns: Perishables and Breakeven Analysis

A local True Value Hardware Store marks its goods up 38% on cost. If a snow blower cost True Value $400, the selling price would be:

(1 + markup percent on cost) * cost equals:

26% markup on selling price Actual cost $700 Selling price?

A local Dunkin' Donuts makes blueberry muffins that cost $.69 each. Past experience shows that 15% of the muffins will spoil and have to be discarded. Assuming that this shop wants a 30% markup based on cost and produces 200 muffins, each muffin should sell for:

The selling price can be calculated if the cost and the percent markup on cost are given.

Munroe Corporation sells Nautilus equipment for $399.95. Munroe marks up the equipment 30% on the selling price. What did the equipment cost Munroe? Round to the nearest cent.

Mr. Small, the store manager for Jay's Appliance, is having a difficult time placing a selling price on a refrigerator that cost $410. Mr. Small knows his boss would like to have a 45% markup based on cost. The selling price should be:

At the end of the summer, Walgreens advertised blow-up pools for 66% off the regular price. Jeff Jones saw a pool with a regular price of $49.99. The dollar markdown is:

Evelyn Smith, a customer of Bill Blank, will pay only $125 for a tea set. Assuming Bill works on a 40% markup on the selling price, what is the most Bill could pay the manufacturer for this tea set?

Bill's Hardware marks up snow blowers $130 and sells them for $485. Markup is on cost. What are the cost and percent markup to the nearest hundredth percent?

Markup represents an amount needed to cover operating expenses.

Camille Keegan sells lamps for $105.55 that cost her $75.00. Camille's percent of markup based on the selling price is:

A video game sells at Arnolds for $199.95. Arnolds marks the game up at 30% of the selling price. What was the cost of the video game to Arnolds?

Blue Jeans, Inc., sells jeans that cost $15.99 for a selling price of $42.95. What is the percent of markup based on cost? (Round to the nearest hundredth percent.)

Pat Maninan, a customer of Brown Co., will pay $400 for a new kitchen table. Brown has a 55% markup on the selling price. What is the most Brown can pay for this kitchen table?

Markdowns may be caused by:

Francis's Bakeshop makes cupcakes that cost $.95 each. Francis knows that 20% of the cupcakes will spoil. Assume Francis wants a 35% markup on cost and produces 60 cupcakes. What should Francis charge for each cupcake? Round to the nearest cent.