A manufacturer distributed a new smart thermostat system through wholesalers and

Question

A manufacturer distributed a new smart thermostat system through wholesalers and retailers. The retail selling price was $850 and the wholesale price was $383. The manufacturers selling price was $156 and the manufacturing cost was $88. Use the selling price based method to determine the mark-up percentages for the retailer. Round up to the second decimal point. A manufacturer distributed a new smart thermostat system through wholesalers and retailers. The retail selling price was $850 and the wholesale price was $383. The manufacturers selling price was $156 and the manufacturing cost was $88. Use the selling price based method to determine the mark-up percentages for the retailer. Round up to the second decimal point.

Explanation / Answer

Cost + Markup= Selling Price

Markup here is considered a % of Selling Price.

C+M= S

C= 383/12= 31.91

M= 850- 31.91 = 818.08

M/S= 818.08/850 = 0.96= 96%

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