An Item Sells for $85

question 216

Short Answer

An item sells for $85. The cost of the item is $50 and overhead expenses are estimated to be 25% of the selling price. What is the rate of mark-up on selling price of the item?

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Definitions:

MBO (Management By Objectives)

A strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed to by both management and employees.

Participation Rate

The percentage of a particular group taking part in an activity or the workforce.

Goal Setting

The process of identifying specific, measurable, and time-targeted objectives, both on an individual and organizational level.

Punishment Strategies

Approaches used to discipline or correct undesirable behaviors, often in the context of management or parenting.