ZuoTi.Pro
Question

The Food Co-op Club boasts that it has 4,800 members and a 190% increase in sales....

The Food Co-op Club boasts that it has 4,800 members and a 190% increase in sales. The markup is 38% based on cost. What would be its percent markup if selling price were the base? (Round your answer to the nearest hundredth percent.)

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1
Answer
38% markup based on cost
therefore $100 x 1.38 = $138
Same markup based on selling price
138 - 100 = 38
hence
its percent markup if selling price were the base
(38 / 138) *100= 27.54%
Answer: 27.54 %

Please like

3 0
Add a comment
Know the answer?
Add Answer to:
The Food Co-op Club boasts that it has 4,800 members and a 190% increase in sales....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • June Co. has a beginning inventory costing $100,000 and an ending inventory costing $125,000. Sales were...

    June Co. has a beginning inventory costing $100,000 and an ending inventory costing $125,000. Sales were $400,000. Assume June's markup rate is 35%, Based on the selling price the inventory turnover at cost (to nearest hundredth) is: 2.31 1.24 1.42 none of the above

  • More business math problems pls help!!

    1. Sunset co. Marks up merchandise 40% on cost. A DVD player costs sunset $90. What is sunsets selling price? (Round answer to nearest cent) 2. Jcpenny sells jeans for $49.50 that cost $38.00. What is the percent markup on cost. Check the cost. (Round answer to nearest hundredth percent) 3. Best Buy sells a flat screen high definition tv for $700. Best Buy marks up the tv 45% on cost. What is the cost and dollar markup of the tv? (Found...

  • 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...

  • the sales tax rate is 8%. Front Range Cabinet Distributors in Colorado Springs, Colorado sells to...

    the sales tax rate is 8%. Front Range Cabinet Distributors in Colorado Springs, Colorado sells to its contractors with a 33% markup on cost. If the selling price for cabinets is $9,441, what is the cost to contractors based on cost? (Round your answer to the nearest cent.)

  • 1) Shannon’s currently boasts a customer base of 1,750 customers that frequent the brewhouse on average...

    1) Shannon’s currently boasts a customer base of 1,750 customers that frequent the brewhouse on average twice per month and spend $31 per visit. Shannon ‘s current variable cost of goods sold is 50% of sales. The customer base is growing at the rate of 3% per month with a customer retention rate of 0.75%, based on data collected from its website and an analysis of credit card receipts. It’s current cost of capital for borrowing and investing is about...

  • QUESTION 1 Shannon’s currently boasts a customer base of 1,750 customers that frequent the brewhouse on...

    QUESTION 1 Shannon’s currently boasts a customer base of 1,750 customers that frequent the brewhouse on average twice per month and spend $29 per visit. Shannon ‘s current variable cost of goods sold is 50% of sales. The customer base is growing at the rate of 3% per month with a customer retention rate of 0.73%, based on data collected from its website and an analysis of credit card receipts. It’s current cost of capital for borrowing and investing is...

  • The following table represents forecasted sales information for Pique Co. Forecasted Operations Sales with 60.00% Increase...

    The following table represents forecasted sales information for Pique Co. Forecasted Operations Sales with 60.00% Increase Unit Change Sales in units (millions) 200.00 320.00 120.00 Sales revenues $3,000.00 $4,800.00 $1,800.00 Variable cost of goods sold (2,000.00) (3,200.00) (1,200.00) Gross profit $1,000.00 $1,600.00 $600.00 Fixed operating costs (170.00) (170.00) (0.00) Net operating income $830.00 $1,430.00 $600.00 By how much will net operating income increase for the given increase in sales and associated expenses? (Round your answer to the nearest whole percent.)...

  • Please provide answers in excel sheet table. Please provide answers and formula. LU 18-2a RA PRACTICE...

    Please provide answers in excel sheet table. Please provide answers and formula. LU 18-2a RA PRACTICE QUIZ WİTH WORKED-O Need mon thils 1. From the sollowing, calculate the cost of ending inventory using the the cost ratio to the nearest teath percent: using the real mthod (a Warked-out Solutions January 1-inventory at cost January 1-inventory at retail Net purchases at cost Net parchsses af retail Net sales at retail oam be tound n Appendix B at 19,000 60,000 265,000 392,000...

  • assume that variable cost increase to 45% of the current sales price and fix costs increase...

    assume that variable cost increase to 45% of the current sales price and fix costs increase by $12,000 per month. If Sunland were to raise its sales price 10% to cover these new costs, but the number of blankets sold were to drop by 6% what would be the new annual operating income? h 3: Homework Question 3 of 4 4.17/5.25 View Policies Show Attempt History Current Attempt in Progress Sunland Monograms sells stadium blankets that have been monogrammed with...

  • Please put it excel spreadsheet format and please provide answers and formula. Thank you. LU 8-2...

    Please put it excel spreadsheet format and please provide answers and formula. Thank you. LU 8-2 PRACTICE QUIZ ive the followding situations (markups based on selling price). Note numbers 1,2 are parallel problems to those in Practice Quiz 8-1 lowing situatio omplete this Practice Qutz to ee how you are dotng 1. Irene Westing bought a desk for $400 from an office supply house. She plans to sellthe desk for $600. What is Irene's dollar markup? What is her percent...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT