What Is the Percentage Markup on an Item Costing $1

question 58

Multiple Choice

What is the percentage markup on an item costing $1.50 and selling for $3.00?

• A) 25%
• B) 50%
• C) 75%
• D) Cannot be determined.

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Definitions:

Supply Metrics

Measures and data used to assess the efficiency and effectiveness of a supply chain, including lead time, inventory levels, and order accuracy.

Efficiency

The ratio of useful output to total input, used to measure the effectiveness of a system, process, or machine in utilizing resources.

Effectiveness

The degree to which objectives are achieved and the extent to which targeted problems are solved.

Performance Benchmarking

The practice of measuring an organization's performance against industry standards or best practices to identify areas for improvement.