Question

The men's outerwear buyer, who needs a 51% average markup for a Columbus day promotion, is planning to buy $9,500 worth of merchandise at retail for October. To date, 100 motorcycle jackets costing $23.40 each have been purchased, with a plan to retail them at 48% markup. What markup percentage is needed on the balance of the purchase to attain the average markup percentage?

Answer 1

Compute the Solution total Maak-up on target purchases, wering the equation as shown below : - Total Mark-up - = Target purchases & Average mark up 9500 X 51% 4845 Hence the Total mark-up on target purchases is 4845. compute the mark up on 100 motorcycle using the equation as shown below : Mark-up - Motorcycle purchased cost per unit X Mark-up percentage. = 100 X 23040 X 48% = 1123,20 Hence the mark-up on 100 motorcycle is 1123.00 Compute the remaining mark-up, using the equation au shown below: Remaining mark-up = Total Mark up on target purchases - Mark up on 100 motorcycles 4845 - 1123.20 3721.80 = - Hence, the remaining mark-up is 3721.80

compute the mark up percentage on balance achieve target mark-up using the equation purchases to shown below: mark-up perecentage = Remaining mark-up / Target purchases motorcycles purchased) = 3721080 / 69500 - 2340) = 3721.80) 1160 = 1.98c/ Hence, the mark-up acheeve percentage on balance purchases to target mark up is 1.98%