Solve the Problem

question 39

Multiple Choice

Solve the problem. Round rates to the nearest tenth of a percent and dollar amounts to the nearest dollar when necessary.
-A jewelry store purchased 120 fashion watches for $3,600. If the store sold 60 watches at $60, 48 watches at $54, and the rest at $30, find (a) the total markup, (b) the markup percent on selling price, and (c) the equivalent markup percent on cost.

• A)$2,952, 82%, 45.1%
• B)$2,952, 45.1%, 82%
• C)$3,600, 55%, 72%
• D)$6,552, 100%, 182%

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Definitions:

Nonprogrammed Decision

This type of decision is made in response to situations that are unique, are poorly defined and largely unstructured, and have important consequences for the organization.

Reordering

The process of ordering additional stock to replenish inventory before it runs out.

Office Supplies

Items used in offices for daily operations, including paper, pens, computers, and furniture.