The markdown percent is calculated by A Amount of markdown divided by sale

# The markdown percent is calculated by a amount of

• Test Prep
• 23
• 91% (11) 10 out of 11 people found this document helpful

This preview shows page 10 - 14 out of 23 pages.

34.The markdown percent is calculated by: A. Amount of markdown divided by salepriceB.Amount of markdown divided by original selling priceC. Sale price divided by amount of markdownD. Original selling price divided by amount of markdownE. None of theseThe markdown percent is calculated by original selling price divided by the amount of markdown divided by original selling price.Blooms: UnderstandLearning Objective: 08-03 (1) Calculate markdowns; compare markdowns and markupsLevel of Difficulty: 2 IntermediateTopic Area: LU 08-03: Markdowns and Perishables
35.Setting a price on perishable items does not include: Blooms: UnderstandLearning Objective: 08-03 (2) Price perishable items to cover spoilage lossLevel of Difficulty: 2 IntermediateTopic Area: LU 08-03: Markdowns and Perishables36.A computer sells for \$995, which is marked up 35% of the selling price. The cost of the computer is: Blooms: ApplyLearning Objective: 08-01 (3) Calculate cost when dollar markup and percent markup on cost are knownLevel of Difficulty: 2 IntermediateTopic Area: LU 08-01: Markups Based on Cost (100%)
37.Red Jeans Inc. sells jeans that cost \$16.55 for a selling price of \$35.99. The percent of markup based on cost is: Blooms: ApplyLearning Objective: 08-01 (1) Calculate dollar markup and percent markup on costLevel of Difficulty: 2 IntermediateTopic Area: LU 08-01: Markups Based on Cost (100%)38.J.C. Penney sells a Timex watch for \$139.99 that cost \$89.97. J.C. Penney's percent of markup based on the selling price is: A. 35.56%B. 35.57%C.35.73%D. 37.52%E. None of these\$50.02/\$139.99 = 35.73%.Blooms: ApplyLearning Objective: 08-02 (1) Calculate dollar markup and percent markup on selling priceLevel of Difficulty: 2 IntermediateTopic Area: LU 08-02: Markups Based on Selling Price (100%)
39.A local True Value Hardware Store marks its goods up 38% on cost. If a snow blower cost True Value\$400, the selling price would be: Blooms: ApplyLearning Objective: 08-01 (2) Calculate selling price when you know the cost and percent markup on costLevel of Difficulty: 1 BasicTopic Area: LU 08-01: Markups Based on Cost (100%)