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|
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
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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fromChapter 12 / Lesson 22
Learn about markup and its benefits. Understand the markup formula, and learn how to calculate markup. See how to find markup percentage with examples.