FOOD QUALITY AND SAFETY
QUALITY CONTROL IN FOOD PROCESSING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -The markup formula becomes: markup = 100 × (revenue-cost) / cost . And finally, if you need the selling price, then try revenue = cost + cost * markup / 100 .
Detailed explanation-2: -Description: In the example, what is the significance of mark up? The amount of markup allowed to the retailer determines the money he makes from selling every unit of the product. Higher the markup, greater the cost to the consumer, and greater the money the retailer makes.
Detailed explanation-3: -Markup pricing refers to a pricing strategy wherein the price of a product or service is determined by calculating the sum of the products and a percentage of it as a markup. In other words, it’s the method of adding a percentage to a product’s cost to determine its selling price.
Detailed explanation-4: -Markup is the difference between a product’s selling price and cost as a percentage of the cost. For example, if a product sells for $125 and costs $100, the additional price increase is ($125 – $100) / $100) x 100 = 25%.