Question

Cumulative Markup Application Practice Problems 7. The jewelry buyer wants to spend $25,000 at retail. The epartment maintains a 76.7% markup. The buyer needs a minimum 1600 pairs of earrings to cover each branch with an adequate ssortment What should be the retail price per pair? What should be the cost per pair? Retail Budget $25.000 Retail $25.00 Units 600 Cost% 24 Retail Price $41.67 Cost Price $0.04 18. For a monthly T-shirt buy, you will be spending $22.560 at retail. Diders for $9,980 at cost have been placed. The planned MU % is 51.5% What is left in retail dollars for you to place? Cost% Cost $9,980.00 Plan/Budget $22,560.00 Spent $12,580.00 Retail Budget Over/Under

Answer 1

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A B С D E F G 1 2 Retail Spend Markup Units 25000 76.70% 3 4 600 5 6 Retail price Retail Budget Units 25000 600 7 Retail price per pair 41.66666667 8 Cost Price 9 10 Retail Cost % 41.66666667 23.3% Cost per pair 9.708333333 11 12 13 Retail Markup Cost 22560 51.50% 9980 14 15 16 17 Cost Cost % 9980 48.5% Plan/Budget Spent Retail Budget over/Under 22560 10941.6 961.6 18 19 20 21 22 23 24

For calculation ref:

A B C D E F 1 2. 3 4 5 6 Retail Spend Markup Units 25000 0.767 4 600 5 Retail Budget Units =C2 =C4 Retail price =D7/E7 7 Retail price per pair 8 9 Retail =F7 Cost% Cost Price =(100%-C3) =D10*E10 10 Cost per pair 11 12 Retail Markup Cost 22560 0.515 13 14 9980 15 16 Cost 17 9980 Cost % =100%-C13 Spent 1=E17*D19 18 Plan/Budget 22560 Retail Budget over/Under =E19-D17 19 20 21