Misu Sheet, owner of the Bedspread Shop, knows his customers will pay no more than $100...
Misu Sheet, owner of the Bedspread Shop, knows his customers will pay no more than $100 for a comforter. Misu wants a 37% markup on cost instead of on selling price. What is Misu’s cost? (Round your answer to the nearest cent.)
Homework Answers
Selling price = $100 per unit
Mark up = 37% on cost
Let the cost per unit be = $K
Mark up = K x 37%
= 0.37K
Cost + Mark up = Selling price per unit
K+0.37K = 100
1.37K = 100
K = 100/1.37
= $72.99
Cost = $72.99
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Misu Sheet, owner of the Bedspread Shop, knows his customers
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