Markup is calculated on selling price

Reference no: EM13293588

The usual retail price of an item is $100. The manufacturer’s cost to produce the item is $40. Retailers take a 50 percent markup and wholesalers take a 10 percent markup (markup is calculated on selling price, unless otherwise is indicated).

a. What is the retailer’s markup in dollars?___________________________

b. What is the wholesale price?_______________________________________

c. What is the manufacturer’s price?___________________________________

d. What is the manufacturer’s markup percentage?_______________________

Reference no: EM13293588

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