Question

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 markup on selino price rounded to the nearest tenth percent)? Check your answer. Selling price will e slightly off due to rounding Suki Komar bought dolls for her toy store that cost $12 each. To make her desired profit, Sukimust mark up each doll 35% on the selling price. What is the selling price of each doll? What is the dollar markup? Check your answer Jay Lyman sells calculators. His competitor sells a new calculator line for $14 each. Ja needs a 40% markup on the selling price to make his desired profit, and he must meet price competition. What is Jay's dollar markup? At what cost can Jay afford to bring these calculators into the store? Check your answer Dan Flow sells wrenches for $10 that cost $6. What is Dan's percent markup on cost? Round to the nearest tenth percent. What is Dan's percent markup on selling price? Check your answer 2. 3. 4. LU 8-2a TRA PRACTICE QUIZ WITH WORK Solve the following situations (markups based on selling price). 1. Irene Westing bought a desk for $800 from an office supply house. She plans to this Need more practice? Try Extra Practice Qulz (check sell the ing price will'be her desite Chapter desk for $1,200. What is Irene's dollar markup? What is her percent markup on price (rounded to the nearest tenth percent)? Check your answer. Selling price selily slightly off due to rounding t Solutions be found tn Appendix B. 2. Suki Komar bought dolls for her toy store that cost $14 each. To make ice. What is the selling price of profit, Suki m ust mark up each doll 38% on selling pr each doll? What is the dollar markup? Check your answer. Jay Lyman sells calculators. His competitor sells a new calculator line for $16 each,. la needs a 42% markup on the selling price to make his desired profit, and he must meet price competition. What is Jay's dollar markup? At what cost can Jay afford to bring these calculators into the store? Check your answer Dan Flow sells wrenches for $12 that cost $7. What is Dan's percent markup on cost? Round to the nearest tenth percent. What is Dan's percent markup on selling price? Check your answer 3. 4.

Answer 1

As per rules I am answering the first 4 subparts of the question

1: Dollar markup = Selling price - cost = 600-400 = $200

Percentage markup = Mark up/ SP

= 200/600 = 33.33%

2

Cost	12
Mark upon SP	35%
Mark up on cost	53.85%
Mark up in dollar	6.46
Selling price	18.46

3:

SP	14
Mark up	40%
Dollar mark up	5.6
Cost	8.4

4:

Cost	6
SP	10
Mark up	4
%Mark up on cost	66.67%
% Mark up on sp	40%

WORKINGS