A Close-Out Retailer Can Purchase a Discontinued Digital Camera for $79

question 85

Multiple Choice

A close-out retailer can purchase a discontinued digital camera for $79 and wants to obtain a 40 percent markup at retail.What retail price should be charged?

• A) $82.60
• B) $98.33
• C) $119.00
• D) $131.67

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Definitions:

Variable Costs

Costs that vary in direct proportion to the volume of output or production in a company.

Variable Costs

Costs that vary directly with the level of production or service delivery.

Fixed Costs

Expenses that do not change with the level of output or sales, such as rent, salaries, and insurance.

Fixed Cost

A cost that does not vary with the level of output or sales, such as rent, salaries, and insurance premiums.