Question 1

Breakeven point is fixed cost divided by contribution margin.

Accepted Answer

A) True 
 B)False

Question 2

Markup is:

Accepted Answer

A)  Selling price + cost 
B)  Selling price divided by cost 
C)  Selling price - cost 
D)  Selling price * (1 + cost) 
E)  None of these 
A)  Selling price + cost 
B)  Selling price divided by cost 
C)  Selling price - cost 
D)  Selling price * (1 + cost) 
E)  None of these

Question 3

Talbot's sells ladies sport coats for $99.99 that cost $65.50. What is the percent markup on cost? Round to nearest hundredth percent. Verify the cost.

Accepted Answer

The answer of Talbot's sells ladies sport coats for $99.99...

Question 4

Operating expenses are the unusual expense of doing business.

Accepted Answer

A) True 
 B)False

Question 5

A final selling price may be the result of a series of markdowns (and possibly some markups).

Accepted Answer

A) True 
 B)False

Question 6

When markups are based on cost, the selling price is 100%.

Accepted Answer

A) True 
 B)False

Question 7

Al's Hat Shop bought a hat for $95. Al wants to mark up the hat by 55% of the selling price. What should the selling price of the hat be?

Accepted Answer

The answer of Al's Hat Shop bought a hat for...

Breakeven point is fixed cost divided by contribution margin.

Markup is:

Talbot's sells ladies sport coats for $99.99 that cost $65.50. What is the percent markup on cost? Round to nearest hundredth percent. Verify the cost.

Operating expenses are the unusual expense of doing business.

A final selling price may be the result of a series of markdowns (and possibly some markups).

When markups are based on cost, the selling price is 100%.

Al's Hat Shop bought a hat for $95. Al wants to mark up the hat by 55% of the selling price. What should the selling price of the hat be?

Problem Solving With Math

Fractions

Decimals

Solving for the Unknown

Business Statistics

Banking and Budgeting

Payroll and Income Tax

Sales, Excise, and Property Taxes

Risk Management

Installment Buying and Revolving Charge Credit Cards

Discounts: Trade and Cash

How to Read, Analyze, and Interpret Financial Reports

Depreciation

Inventory and Overhead

Simple Interest

Promissory Notes, Simple Discount Notes, and the Discount Process

The Cost of Home Ownership

Compound Interest and Present Value

Annuities and Sinking Funds

Stocks, Bonds, and Mutual Funds

Filters

Exam 12: Markups and Markdowns: Perishables and Breakeven Analysis

Breakeven point is fixed cost divided by contribution margin.

Markup is:

Talbot's sells ladies sport coats for $99.99 that cost $65.50. What is the percent markup on cost? Round to nearest hundredth percent. Verify the cost.

Operating expenses are the unusual expense of doing business.

A final selling price may be the result of a series of markdowns (and possibly some markups).

When markups are based on cost, the selling price is 100%.

Al's Hat Shop bought a hat for $95. Al wants to mark up the hat by 55% of the selling price. What should the selling price of the hat be?

Problem Solving With Math

Fractions

Decimals

Solving for the Unknown

Business Statistics

Banking and Budgeting

Payroll and Income Tax

Sales, Excise, and Property Taxes

Risk Management

Installment Buying and Revolving Charge Credit Cards

Discounts: Trade and Cash

How to Read, Analyze, and Interpret Financial Reports

Depreciation

Inventory and Overhead

Simple Interest

Promissory Notes, Simple Discount Notes, and the Discount Process

The Cost of Home Ownership

Compound Interest and Present Value

Annuities and Sinking Funds

Stocks, Bonds, and Mutual Funds

Filters