Curtis Company Sets Price Equal to Cost Plus 50

question 62

Multiple Choice

Curtis Company sets price equal to cost plus 50%. Recently, Curtis charged a customer a price of $150 for an item. What was the cost of the item to Curtis?

• A) $50
• B) $75
• C) $100
• D) $40
• E) $80

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Definitions:

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone.

Interdependence

The mutual dependence between things where changes in one can affect the other.

Cross-Functional Team

A team comprised of members from different departments or functional areas within an organization, brought together to achieve a specific goal or work on a specific project.

Cross-Functional Communication

This refers to the exchange of information and collaboration between different departments or disciplines within an organization to achieve a common goal.