In: Accounting
1.
Calculate the markup rate based on selling price for the following item. Round percents to the nearest whole percent.
Cost | Selling Price | Markup Rate | |
$151.21 | $288.00 | % |
2.
Complete the following word problem.
What is the cost if the markup is 55% of the selling price and
the selling price is $128? Round dollar amounts to the nearest
cent.
$
3. Complete the following word problem.
What is the cost of an item that sells for $130 and 60% markup
is based on selling price? Round dollar amounts to the nearest
cent.
$
4. Complete the following word problem.
An item's selling price is $19.99 and the markup amount is
$12.12. What is the cost? Round dollar amounts to the nearest
cent.
$
5. Complete the following word problem.
A lamp sells for $125.50 and costs $59.80. What is the markup
rate based on selling price? Round percents to the nearest whole
percent.
%
6.
Calculate the selling price when cost and markup rate are based on selling price for the following item. Round dollar amounts to the nearest cent.
Cost | Markup Rate | Selling Price | |
$59.50 | 33% | $ |