A Dining Set Was Purchased by Sears for $903 Less

question 68

Short Answer

A dining set was purchased by Sears for $903 less 28% and 6%. Sears marks up this product by 38% of cost. If operating expenses amounted to $67.23, then determine the operating expenses as a percentage of selling price.

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Definitions:

List Price Deductions

Discounts or reductions in the initial selling price of goods or services.

Everyday Low Pricing

A pricing strategy where a retailer consistently offers products at a low price rather than relying on sales or discounts.

Promotional Allowances

Financial incentives provided by manufacturers to retailers for the purpose of advertising or promoting specific products.

Manufacturer List Prices

The recommended retail price set by the maker of a product, indicating the price retailers are suggested to sell at to consumers.