Question
In: Finance
Skirts have recently become a big item for the Soleon Department Store. The buyer was able...
- Skirts have recently become a big item for the Soleon Department Store. The buyer was able to obtain 3 different styles. Her order is as follows:
|
Style Number |
# items |
Unit cost |
Unit retail |
Total cost |
Total retail |
MU% |
|
SK2810120 |
50 |
$32.00 |
||||
|
SK2700427 |
10 |
$54.50 |
||||
|
SK2450815 |
20 |
$43.00 |
||||
If the average markup goal for these 3 skirt styles is 55%, what is the expected total dollar retail for them? (5 points)
Solutions
Expert Solution
Solution:
Markup is always made on cost.Thus required calculations are as follow:
i)Unit retail and total dollar retail
a)SK2810120=Unit cost(1+markup)
=$32.00(1+0.55)=$49.6
Total dollar retail=Unit retail*Total unit
=$49.6*50=$2,480
b)SK2700427=$54.50*(1+0.55)
=$84.475
Total dollar retail=Unit retail*Total unit
=$84.475*10=$844.75
c)SK2450815=$43.00(1+0.55)
=$66.65
Total dollar retail=$66.65*20=$1,333
ii)Total Cost
Total cost=Unit cost*No. of unit
a)SK2810120=$32*50
=$1600
b)SK2700427=$54.50*10
=$545.
c)SK2450815=$43.00*20
=$860
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