v2.cengagenow.com 018SP-Reeder-OL. (Jan to May): Link to Cengage Show Me How Cen

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v2.cengagenow.com 018SP-Reeder-OL. (Jan to May): Link to Cengage Show Me How CengageNOWv2 | Online teaching and learning resource from Cengage Learning eBook Caalator Product Cost Markup Percentage Green Thumb Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $230 per unit, of which $160 is product cost and $70 is selling and administrative expenses. In addition, the total cost of $2.30 is made up of $120 variable cost and $110 fixed cost. The desired profit is $58 per unit. Determine the markup percentage on product cost. Check My Work Previous Next All work saved

Explanation / Answer

Total Cost per unit 230 per unit Product cost per unit 160 per unit Desired profit per unit 58 per unit Markup percentage based on Product cost: Desired profit/ Product cost*100 58.00 /160.00 *100 = 36.25% of product cost

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