Question

The Food Co-op Club boasts that it has 4,700 members and a 185% increase in sales....

The Food Co-op Club boasts that it has 4,700 members and a 185% increase in sales. The markup is 37% based on cost. What would be its percent markup if selling price were the base? (Round your answer to the nearest hundredth percent.)

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs...
Rios Co. makes drones and uses the variable cost approach in setting product prices. Its costs for producing 42,000 units follow. The company targets a profit of $322,000 on this product. Variable Costs per Unit Fixed Costs (in total) Direct materials $ 92 Overhead $ 692,000 Direct labor 62 Selling 327,000 Overhead 47 Administrative 307,000 Selling 37 1. Compute the variable cost per unit. 2. Compute the markup percentage on variable cost. (Round percentage answer to 2 decimal places.) 3....
It costs $5,400 to manufacture a Jet Ski. If the desired percent markup based on cost...
It costs $5,400 to manufacture a Jet Ski. If the desired percent markup based on cost is 44%, how much should each Jet Ski sell for? The markup on a desk should be 32% based on selling price. If the seller paid $280 for one, then how much should it sell for to achieve the desired markup? A markup of 33% based on cost is desired for a load of 600 bushels of peanuts. They were purchased at $5.85 per...
Shannon’s currently boasts a customer base of 1,750 customers that frequent the brewhouse on average twice...
Shannon’s currently boasts a customer base of 1,750 customers that frequent the brewhouse on average twice per month and spend $29 per visit. Shannon ‘s current variable cost of goods sold is 50% of sales. The customer base is growing at the rate of 3% per month with a customer retention rate of 0.73%, based on data collected from its website and an analysis of credit card receipts. It’s current cost of capital for borrowing and investing is about 12%...
For a recent year, McDonald's Company-owned restaurants had the following sales and expenses (in millions): Sales...
For a recent year, McDonald's Company-owned restaurants had the following sales and expenses (in millions): Sales $32,300 Food and packaging $11,984 Payroll 8,100 Occupancy (rent, depreciation, etc.) 6,546 General, selling, and administrative expenses 4,700 $31,330 Income from operations $970 Assume that the variable costs consist of food and packaging, payroll, and 40% of the general, selling, and administrative expenses. a. What is McDonald's contribution margin? Round to the nearest million. (Give answer in millions of dollars.) $ million b. What...
Local Co. has sales of 10.8 million and cost of sales of $5.6 million. Its​ selling,...
Local Co. has sales of 10.8 million and cost of sales of $5.6 million. Its​ selling, general and administrative expenses are $500,000 and its research and development is $1.3 million. It has annual depreciation charges of $1.2 million and a tax rate of 35%. a. What is​ Local's gross​ margin? b. What is​ Local's operating​ margin? c. What is​ Local's net profit​ margin? d. If Local Co. had an increase in selling expenses of $270,000​, how would that affect each...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs...
Steeze Co. makes snowboards and uses the total cost approach in setting product prices. Its costs for producing 19,500 units follow. The company targets a profit of $503,100 on this product. Variable Costs per Unit Fixed Costs Direct materials $ 119 Overhead $ 480,000 Direct labor 44 Selling 120,000 Overhead 39 Administrative 336,000 Selling 8 1. Compute the total cost per unit. 2. Compute the markup percentage on total cost. (Round your final percentage answer to 1 decimal place.) 3....
The Feina Club appears to be having some difficulty controlling its food costs. The management budgeted...
The Feina Club appears to be having some difficulty controlling its food costs. The management budgeted its COGS as 36.00% of the budgeted food revenues, which is $100,000. However, the actual COGS turn out to be $40,800. Also, the #of plates budgeted and actually served were 15,000 and 16,000 respectively. Therefore, the budgeted cost per unit and the actual cost per unit were $2.40 and $2.55 per plate respectively. Based on the information given, run a complete variance analysis for...
Staley Co. manufactures computer monitors. The following is a summary of its basic cost and revenue...
Staley Co. manufactures computer monitors. The following is a summary of its basic cost and revenue data: Per Unit Percent Sales price $ 420 100.00 Variable costs 217 51.67 Unit contribution margin $ 203 48.33 Assume that Staley Co. is currently selling 550 computer monitors per month and monthly fixed costs are $79,300. If an $15,800 increase in the advertising budget would increase monthly sales by $59,300, the new level of operating income (πB) for Staley Co. would be:
Local Co. has sales of $10.2 million and cost of sales of $6.2 million. Its​ selling,...
Local Co. has sales of $10.2 million and cost of sales of $6.2 million. Its​ selling, general and administrative expenses are  $460,000 and its research and development is $1.3 million. It has annual depreciation charges of $1.1 million and a tax rate of 35%. a. What is​ Local's gross​ margin? b. What is​ Local's operating​ margin? c. What is​ Local's net profit​ margin? Round to one decimal for all answer.
Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following...
Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $151,550). $ 273,300 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $790). 1,740 c. Sold merchandise (costing $8,550) to a customer on account with terms n/30. 19,000 d. Collected half of the balance owed by the customer in...