BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Markup based on selling price
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Cost
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Selling price
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Markup based on cost
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Detailed explanation-1: -Which is an 82% markup (markup divided by product cost) Margin is the selling price of a product minus cost of goods. Using the above example, the margin for a product sold for $200 with a cost of $110 would be $90.
Detailed explanation-2: -Simply take the sales price minus the unit cost, and divide that number by the unit cost. Then, multiply by 100 to determine the markup percentage. For example, if your product costs $50 to make and the selling price is $75, then the markup percentage would be 50%: ( $75 – $50) / $50 = . 50 x 100 = 50%.
Detailed explanation-3: -How to calculate: Markup % = (Selling price – cost price) / cost price x 100. Gross profit % = (Selling price – cost price) / selling price x 100.
Detailed explanation-4: -If you have a product that costs $15 to buy or make, you can calculate the dollar markup on selling price this way: Cost + Markup = Selling price. If it cost you $15 to manufacture or stock the item and you want to include a $5 markup, you must sell the item for $20.