Homework Answers
Markup on selling price= (P-C)*100/P
25= (P-10)*100/P
25P= 100P - 1000
P= 1000/75= 13.33
Final retail price is 13.33
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Question 13 (1 point) A retailer uses a markup-on-selling-price approach to setting retail prices. If the...
price setting: wire solution manufacturing cost for shoe rack: black: $2.80 chrome: $3.60 selling retail in...
price setting: wire solution
manufacturing cost for shoe rack:
black: $2.80
chrome: $3.60
selling retail in the $9.95-$19.95 range
administrative overhead cost: $95,000 per year
sales value per year $3.6 million
Pricing setting Wire Solutions case in text Manufacturing cost $3.60 chrome shoe rack $2.80 black shoe rack Selling retail in the $9.95-$19.95 range Administrative overhead $95,000 per yearl Sales value per year $3.6 million (show all your work) 1. If wire solution took a 30 % markup on the...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 13,000 units follow. The company targets a profit of $405,600 on this product. Variable costs per Unit Fixed Costs Direct materials $ 106 Overhead $ 476.000 Direct labor 31 Selling 111,000 Overhead 26 Administrative 310.000 Selling 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 13,500 units follow. The company targets a profit of $388,800 on this product. Variable Costs per Unit Direct materials Fixed Costs 107 Overhead $477,000 Direct labor Selling Administrative 32 105,000 309,000 Overhead 27 Selling 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute the product's...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 19,000 units follow. The company targets a profit of $490,200 on this product. Fixed Costs Variable Costs per Unit Direct materials Direct labor Overhead Selling 43 38 Selling Administrative $482,000 122,000 346,000 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute the product's selling price...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 42,000 units follow. The company targets a profit of $322,000 on this product. Variable Costs per Unit Direct materials $ 92 Direct labor 62 Overhead 47 Selling Fixed Costs (in total) Overhead $692,000 Selling 327,000 Administrative 307,000 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3. Compute the...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 27,000 units follow. The company targets a profit of $307,000 on this product. Variable Costs per Unit Direct materials $ 77 Direct labor 47 Overhead 32 Selling Fixed Costs (in total) Overhead $677,000 Selling 312,000 Administrative 292,000 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3. Compute the...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 40.000 units follow. The company targets a profit of $320,000 on this product. Variable Costs per Unit Fixed Costs (in total) Direct materials $ 90 Overhead $690,000 Direct labor 60 Selling 325,000 Overhead 45 Administrative 305,000 Selling 35 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3. Compute...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 38,000 units follow. The company targets a profit of $318,000 on this product. Variable costs per Unit Fixed Coats Direct materials $ 98 Overhead $688,000 Direct labor 58 Selling 323,000 Overhead 43 Administrative 301.000 Selling 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3. Compute the product's selling...
Question 14 (1 point) The parity pricing approach involves setting a product price so that it...
Question 14 (1 point) The parity pricing approach involves setting a product price so that it is just below the price set by competitors setting a product price so that it is just above the price set by competitors setting a product price so that it is equal with the price set by competitors setting a product price so that it is always double the price of the lowest pri competitor
Question 5 3 pt A buyer of men's shirts has a price point (desired retail selling price) of $79.99 and requires a m...
Question 5 3 pt A buyer of men's shirts has a price point (desired retail selling price) of $79.99 and requires a markup of 65% @ cost. When shopping various vendors, what is the highest cost the buyer should be willing to pay for these shirts to meet his price point and earn his desired markup percentage? Note: Please provide only the numerical answer; no dollar sign. For final answer round to whole number (no decimal points).
price setting: wire solution
manufacturing cost for shoe rack:
black: $2.80
chrome: $3.60
selling retail in the $9.95-$19.95 range
administrative overhead cost: $95,000 per year
sales value per year $3.6 million
Pricing setting Wire Solutions case in text Manufacturing cost $3.60 chrome shoe rack $2.80 black shoe rack Selling retail in the $9.95-$19.95 range Administrative overhead $95,000 per yearl Sales value per year $3.6 million (show all your work) 1. If wire solution took a 30 % markup on the...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 13,000 units follow. The company targets a profit of $405,600 on this product. Variable costs per Unit Fixed Costs Direct materials $ 106 Overhead $ 476.000 Direct labor 31 Selling 111,000 Overhead 26 Administrative 310.000 Selling 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 13,500 units follow. The company targets a profit of $388,800 on this product. Variable Costs per Unit Direct materials Fixed Costs 107 Overhead $477,000 Direct labor Selling Administrative 32 105,000 309,000 Overhead 27 Selling 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute the product's...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 19,000 units follow. The company targets a profit of $490,200 on this product. Fixed Costs Variable Costs per Unit Direct materials Direct labor Overhead Selling 43 38 Selling Administrative $482,000 122,000 346,000 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3. Compute the product's selling price...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 42,000 units follow. The company targets a profit of $322,000 on this product. Variable Costs per Unit Direct materials $ 92 Direct labor 62 Overhead 47 Selling Fixed Costs (in total) Overhead $692,000 Selling 327,000 Administrative 307,000 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3. Compute the...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 27,000 units follow. The company targets a profit of $307,000 on this product. Variable Costs per Unit Direct materials $ 77 Direct labor 47 Overhead 32 Selling Fixed Costs (in total) Overhead $677,000 Selling 312,000 Administrative 292,000 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3. Compute the...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 40.000 units follow. The company targets a profit of $320,000 on this product. Variable Costs per Unit Fixed Costs (in total) Direct materials $ 90 Overhead $690,000 Direct labor 60 Selling 325,000 Overhead 45 Administrative 305,000 Selling 35 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3. Compute...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 38,000 units follow. The company targets a profit of $318,000 on this product. Variable costs per Unit Fixed Coats Direct materials $ 98 Overhead $688,000 Direct labor 58 Selling 323,000 Overhead 43 Administrative 301.000 Selling 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3. Compute the product's selling...
Question 14 (1 point) The parity pricing approach involves setting a product price so that it is just below the price set by competitors setting a product price so that it is just above the price set by competitors setting a product price so that it is equal with the price set by competitors setting a product price so that it is always double the price of the lowest pri competitor
Question 5 3 pt A buyer of men's shirts has a price point (desired retail selling price) of $79.99 and requires a markup of 65% @ cost. When shopping various vendors, what is the highest cost the buyer should be willing to pay for these shirts to meet his price point and earn his desired markup percentage? Note: Please provide only the numerical answer; no dollar sign. For final answer round to whole number (no decimal points).
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