Calculate the dollar markup and cost. \[\begin{array} { | c | c | c | c | } \hline \text { Selling Price } & \begin{array} { c } \% \text { Markup on } \\ \text { Selling Price } \end{array} & \begin{array} { c } \text { Dollar } \\ \text { Markup } \end{array} & \text { Cost } \\ \hline \$ 900 & 30 \% & \text { A } & \text { B } \\ \hline \end{array}\]

The answer of Calculate the dollar markup and cost. \[\begin{array}...

Calculate the dollar markup and selling price. \[\begin{array} { | c | c | c | c | } \hline \text { Cost } & \begin{array} { c } \% \text { of Markup } \\ \text { on Cost } \end{array} & \begin{array} { c } \text { Dollar } \\ \text { Markup } \end{array} & \text { Selling Price } \\ \hline \$ 400 & 20 \% & \text { A } & \text { B } \\ \hline \end{array}\]

The answer of Calculate the dollar markup and selling price. ...

Calculate the final selling price. \[\begin{array} { | c | c | c | c | c | c | } \hline \begin{array} { c } \text { Original } \\ \text { SellingPrice } \end{array} & \begin{array} { c } 1 \text { st } \\ \text { Markdown } \end{array} & \begin{array} { c } \text { 2nd } \\ \text { Markdown } \end{array} & \text { Markup } & \begin{array} { c } \text { Final } \\ \text { Markdown } \end{array} & \begin{array} { c } \text { Final Selling } \\ \text { Price } \end{array} \\ \hline \$ 7,000 & 15 \% & 10 \% & 8 \% & 8 \% & - - \\ \hline \end{array}\]

The answer of Calculate the final selling price. \[\begin{array} {...

Exam 8: Markups and Markdowns: Perishables and Breakeven Analysis

Zale's bought a tea set for $1,400. Zale's wants to markup the set 55% of the selling price. The selling price of the tea set should be:

(Multiple Choice)

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Question 21

Calculate the dollar markup and cost. Selling Price \% Markup on Selling Price Dollar Markup Cost \ 900 30\% A B

(Short Answer)

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Question 22

Match the following terms with their definitions. -Dollar markup

(Multiple Choice)

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Question 23

Match the following terms with their definitions. -Perishables

(Multiple Choice)

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Question 24

Calculate the dollar markup and selling price. Cost \% of Markup on Cost Dollar Markup Selling Price \ 400 20\% A B

(Short Answer)

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Question 25

Calculate the final selling price. Original SellingPrice 1 st Markdown 2nd Markdown Markup Final Markdown Final Selling Price \ 7,000 15\% 10\% 8\% 8\% --

(Short Answer)

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(30)

Question 26

A toaster is marked up $10 and sells for $45.00. Find the cost and percent markup if the markup is based on cost. (Round to the nearest hundredth percent.)

(Short Answer)

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Question 27

A wooden duck with a regular selling price of $109.45 is marked down to $69.50. What is the percent of markdown based on the regular price? (Round to the nearest tenth percent.)

(Short Answer)

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Question 28

28% markup on selling price Actual cost $900 Selling price?

(Short Answer)

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Question 29

Setting a price on perishable items does not include:

(Multiple Choice)

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Question 30

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.

(Short Answer)

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Question 31

Lonnie Ianazzo, owner of Anthony's Jewelers in Tulsa, Oklahoma, marks up diamond earrings 83% on cost. The earrings cost Anthony's Jewelers $120 each. At what price should Anthony's sell the earrings?

(Short Answer)

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Question 32

A. If the cost of a TV is $120 and it sells for $200, what is the percent of markup based on cost? Round to the nearest hundredth percent. B. Check your answer.

(Short Answer)

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Question 33

The markdown percent is calculated by:

(Multiple Choice)

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Question 34

Cost is equal to the selling price divided by (1 + markup percent on cost)when markup is based on cost.

(True/False)

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Question 35

Macy's Department Stores markup men's cologne 63% on cost for an 8-ounce bottle. A bottle of cologne costs Macy's $23.00. What is the selling price for the 8-ounce bottle?

(Multiple Choice)

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Question 36

Jackie Smith, a customer of Roger Blank, will pay only $190 for a tennis racket. Assuming Roger works on a 60% markup on the selling price, the most Roger will pay the manufacturer is:

(Multiple Choice)

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Question 37

Ski Market sells snowboards. Ski Market knows that the most people will pay for the snowboards is $129.99. Ski Market is convinced that it needs a 45% markup based on cost. The most that Ski Market can pay to its supplier for the snowboards is:

(Multiple Choice)

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Question 38

If the selling price and percent markup on selling price are given, the actual cost can be calculated.

(True/False)

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Question 39

Gross profit is net sales minus the cost of bringing merchandise into the store.

(True/False)

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Question 40

Exam 8: Markups and Markdowns: Perishables and Breakeven Analysis

Zale's bought a tea set for $1,400. Zale's wants to markup the set 55% of the selling price. The selling price of the tea set should be:

Calculate the dollar markup and cost. Selling Price \% Markup on Selling Price Dollar Markup Cost \ 900 30\% A B

Match the following terms with their definitions. -Dollar markup

Match the following terms with their definitions. -Perishables

Calculate the dollar markup and selling price. Cost \% of Markup on Cost Dollar Markup Selling Price \ 400 20\% A B

Calculate the final selling price. Original SellingPrice 1 st Markdown 2nd Markdown Markup Final Markdown Final Selling Price \ 7,000 15\% 10\% 8\% 8\% --

A toaster is marked up $10 and sells for $45.00. Find the cost and percent markup if the markup is based on cost. (Round to the nearest hundredth percent.)

A wooden duck with a regular selling price of $109.45 is marked down to $69.50. What is the percent of markdown based on the regular price? (Round to the nearest tenth percent.)

28% markup on selling price Actual cost $900 Selling price?

Setting a price on perishable items does not include:

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.

Lonnie Ianazzo, owner of Anthony's Jewelers in Tulsa, Oklahoma, marks up diamond earrings 83% on cost. The earrings cost Anthony's Jewelers $120 each. At what price should Anthony's sell the earrings?

A. If the cost of a TV is $120 and it sells for $200, what is the percent of markup based on cost? Round to the nearest hundredth percent. B. Check your answer.

The markdown percent is calculated by:

Cost is equal to the selling price divided by (1 + markup percent on cost)when markup is based on cost.

Macy's Department Stores markup men's cologne 63% on cost for an 8-ounce bottle. A bottle of cologne costs Macy's $23.00. What is the selling price for the 8-ounce bottle?

Jackie Smith, a customer of Roger Blank, will pay only $190 for a tennis racket. Assuming Roger works on a 60% markup on the selling price, the most Roger will pay the manufacturer is:

Ski Market sells snowboards. Ski Market knows that the most people will pay for the snowboards is $129.99. Ski Market is convinced that it needs a 45% markup based on cost. The most that Ski Market can pay to its supplier for the snowboards is:

If the selling price and percent markup on selling price are given, the actual cost can be calculated.

Gross profit is net sales minus the cost of bringing merchandise into the store.

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