Deck 8: Markup

Question 1

​The markup percent is based on selling price. Compute the missing terms.
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Answer 1

Question 2

The markup percent is based on cost. Compute the missing terms.​
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Answer 2

Question 3

The markup percent is based on cost. Compute the missing terms.​
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Answer 3

Question 4

Markup percent is based on selling price. Compute the missing terms.​
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Question 5

Compute the missing terms.

Question 6

The markup percent is based on cost. Compute the missing terms.​
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Question 7

Compute the missing terms.
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Question 8

Markup percent is based on selling price. Compute the missing terms.​
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Question 9

Compute the missing terms.​
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Question 10

​The markup percent is based on cost. Compute the missing terms.
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Question 11

The markup percent is based on cost. Compute the missing terms.​
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Question 12

The markup percent is based on cost. Compute the missing terms.​
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Question 13

The markup percent is based on cost. Compute the missing terms.
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Question 14

Markup percent is based on selling price. Compute the missing terms.​
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Question 15

​The markup percent is based on cost. Compute the missing terms.
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Question 16

Compute the missing terms.​
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Question 17

​Markup percent is based on selling price. Compute the missing terms.
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Question 18

Compute the missing terms.​
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Question 19

The markup percent is based on cost. Compute the missing terms.​
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Question 20

​Markup percent is based on selling price. Compute the missing terms.
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Question 21

Won Yin imports furniture and sells through several outlet stores. Yin's markup for imported tables is 125% based on cost. If a table sells for $877.50, how much did it cost?

Question 22

The markup percent is based on selling price. Compute the missing terms.​
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Question 23

Omar Davies owns a large sporting goods store with several departments, one of which sells only camping equipment. Omar buys one model of portable gas stove for $60. During the camping season, Omar sells the stove for $187.50. What is the markup percent based on selling price?

Question 24

Jon Draper sold a small, lightweight garden tractor to a landscape company for use on landscaping jobs in small areas. The tractor had a cost of $3,190 and Draper sold it for $4,795. Compute the dollar markup.

Question 25

Hagen Banse is a landscape contractor. He charges less for labor than other contractors, but he charges his clients the retail price for a plant while he pays only a wholesale price. Hagen charges a client $450 for an olive tree that only costs him $250. What is the markup percent based on cost?​

Question 26

Barbara Duff manages a marina with her sister, Sheryl. To moor sailboats to the dock, the sisters needed rope. A maritime wholesaler was selling 5/8 inch twisted strand polypropylene rope in 500 foot rolls. The store had paid $123.64 per roll for the rope. For the sisters, the hardware store marked up the rope 20% above their cost. Compute the dollar markup and the selling price that the sisters would pay for one roll of the rope.

Question 27

Michael Waxman, a restaurant consultant, advised a client to buy a 30-inch diameter commercial kitchen exhaust system which was specifically designed to remove "grease-laden" air. Waxman knew that most vendors marked up these items 60% based on cost. If the cost of such an exhaust system is $1,910, what will be the selling price?

Question 28

A new state health law required the owners' dry cleaning companies to install large air circulators (fans) because of possible dangerous fumes. Gretchen Farmer, who sells such equipment, has a large rotating air circulator on an 8-ft weighted stand that cost her $242.20. Gretchen marked it up by $161.29. Find the selling price of the air circulator.

Question 29

LuAnn Chandler recently opened a new office as a Certified Public Accountant (CPA). LuAnn bought a fireproof four-drawer vertical filing cabinet for $857.40. If the vendor had marked it up by $229, how much did the vendor pay for the filing cabinet?​

Question 30

​The markup percent is based on selling price. Compute the missing terms.
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Question 31

Dorothy Quinones manages a security equipment store that sells items including alarm systems, lock and safes. Dorothy marks up everything in the store 50% based on cost. If she sells a 5,040 cubic inch fireproof safe for $474.51, compute the dollar markup on the safe.

Question 32

Bill Lounsberry's hobby was repairing old foreign sports cars in a garage at home. To store parts, Lounsberry bought some steel industrial warehouse shelving. Each unit was 6 feet long, 7 feet tall, and 2 feet deep with 500 pound capacity for each shelf. The distributor sold each unit for $425. Calculate the cost per unit to the distributor if the dollar markup on each unit was $92.30.

Question 33

Julianne Fong started a company which sells equipment to retrofit buildings for the physically challenged. Julianne will pay $485.60 for a wheel chair access water cooler, with front and side push bars to activate the water fountain. If she decides to mark up the price 37.5% based on cost, what will be the selling price of the water cooler?

Question 34

David Tang operates an automotive wrecking yard and he needs a 4-ton chain hoist to move heavy car and truck parts. Tang can buy a used hoist for $3,840 from a dealer who paid $1,600 for it. Compute the markup percent based on cost.

Question 35

Anderson Hall sold his own car to a travel agent, for business purpose. The car had a cost of $15,280 and Hall sold it for $16,884. Compute the dollar markup.

Question 36

J.D. Straley owns New England Art Gallery and specializes in selling water color paintings of the New England landscape. Although he usually sells on consignment, recently Straley bought a small painting from a well-known artist for $3,450 and marked it up by $2,725. Compute the selling price of the painting.

Question 37

​The markup percent is based on selling price. Compute the missing terms.
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Question 38

Noah Jacob owns an automobile shop in Toronto and it specializes in selling motorcycles. He usually sells in batches, however, recently Noah bought a motorcycle from a well-known dealer for $7,540 and marked it up by $6,835. Compute the selling price of the motorcycle.

Question 39

Sonny Fujito sells machine shop equipment. One customer was interested in a 4-speed, metal-cutting, horizontal band saw, without motor. This particular band saw cost $2,464. If Sonny sold the saw for $4,004, what was the percent markup percent based on cost?

Question 40

Adrienne Schweitzer manages an office supply store. A combination printer/copier/fax machine recently sold for $395. Adrienne knows that the fax machine cost the store $209. How much was the dollar markup?

Question 41

As a source of income after retirement, Ian Donnelly sells an assortment of hard-to-find, specialty hardware items out of his home. Ian buys a pair of small "ratchet-style" pruning clippers for $15 each and sells them for $45 each. What is the markup percent based on selling price?

Question 42

Kevin Woo owns a small shop which specializes in selling scaffolding equipment, ladders, and painting supplies. Kevin marks up all ladders 30% based on selling price. A 28-foot aluminum extension ladder has a cost of $196.14. What is the dollar markup?

Question 43

Clark Thomas wants to purchase a side table for his home. Clark found one that is selling for $450. Through a friend, Clark learns that the dealer's cost of this side table is $300.00. Find the dealer's markup percent based on selling price.

Question 44

Henry Donaldson sold kitchen equipment to homeowners although he made his store appear as if it were a restaurant supply store. Henry was selling a meat slicing machine for $480 and it had cost him $168. What was the percent markup percent based on selling price?

Question 45

Brad Pham works as a department manager in a computer products store. One particular fax machine sells for $212.40. Management told Pham that the markup on this fax machine was 45% based on selling price. Calculate the cost of the machine.

Question 46

Janelle Austin services hot tubs and spas and sells replacement parts. Janelle marks up replacement parts 30% based on selling price. Compute the selling price of a hot tub water heater that has a cost of $107.17.

Question 47

Neale Burgraaf wants to purchase a halogen lamp for her office. Neale found one that is selling for $250. Through a friend, Neale learns that the dealer's cost of this lamp is $105.00. Find the dealer's markup percent based on selling price.

Question 48

Wilson Gomez manages the large screen television sales for a high-volume, discount appliance dealer. Large screen televisions are normally marked up only 40% based on selling price. Compute the dollar markup and the dealer's cost on a large screen television set that sells for $2,190.

Question 49

Michelle Sosa sells roofing supplies and equipment to contractors. Michelle marks up all equipment items based on selling price. Her selling price on a pneumatic roofing stapler is $540. If the cost of the stapler had been $297, what is the markup percent based on selling price?​

Question 50

Steve Salter sells plumbing equipment and supplies. Salter will mark up an 80-gallon residential hot water heater 35% based on selling price. If the hot water heater costs Salter $221, what will be his selling price?

Question 51

Near the city park, Wendi Haskell opened a bicycle shop where she rents and sells both mountain and road racing bikes. Wendi buys her rental mountain bikes from a local manufacturer whose cost is $180 for each bike. If Wendi pays $315 for each bike, what is the manufacturer's markup percent based on its cost?

Question 52

Cesare Aguilar works as a salesperson for an office products warehouse store. The markup percent on laser printers is based on selling price. One popular, competitively priced laser printer sells for $520. Cesare knows that the cost of this item is $312. Compute the markup percent based on selling price.