Calculate the total cost, total selling price and selling price per brownie. Item Total quantity...

Question:

Calculate the total cost, total selling price and selling price per brownie.

 Item Total quantity bought Unit cost Total cost Percent markup on cost Total selling price Percent that will spoil Selling price per brownie Brownies 10 $0.87$_____ 55% $_____ 20%$_____

Markup:

The percent markup is the gross profit that is added to the cost of the product. Some companies determine the selling price by adding a specific markup to the cost of their items. Others base the price on the supply and demand of the products.

Answer and Explanation: 1

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The total cost is the number of items times the unit cost:

• Total cost = Total quantity * Unit cost = 10 * 0.87 = \$8.70

The total selling price is the...

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Learn more about this topic:

How to Calculate Markup: Definition & Formula

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Chapter 12 / Lesson 22
102K

Learn about markup and its benefits. Understand the markup formula, and learn how to calculate markup. See how to find markup percentage with examples.