1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
andreyandreev [35.5K]
3 years ago
5

Green Thumb Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $230 per u

nit, of which $160 is product cost and $70 is selling and administrative expenses. In addition, the total cost of $230 is made up of $120 variable cost and $110 fixed cost. The desired profit is $58 per unit. Determine the markup percentage on product cost.
Business
1 answer:
WARRIOR [948]3 years ago
7 0

Answer:

80%

Explanation:

The computation of markup percentage on product cost is shown below:-

Markup percentage on product cost = ((Selling and administrative expenses + Desired profit) ÷ Product cost) × 100

= (($70 + $58) ÷ $160) × 100

= 0.8

or

= 80%

Therefore for computing the markup percentage on product cost we simply applied the above formula.

You might be interested in
Andrina always spends 30 % of her income on thingamabobs. Assume that her income increases by some percentage while the price of
Leni [432]

Answer

<em>What is Income Elasticity of Demand? </em>

Income elasticity of demand is the ratio of percentage change in quantity of a product demanded to percentage change in the income level of consumer. It is a measure of responsiveness of quantity demanded to changes in consumers income.

Income elasticity of demand indicates whether a product is <em>a</em> <em>normal good or an inferior good.</em> When the quantity demanded of a product increases with an increase in the level of income and decreases with decrease in level of income, we get a positive value for income elasticity of demand. A positive income elasticity of demand stands for a normal (or superior) good. When the quantity demanded of a product or service decreases in response to an increase and increases in response to decrease in the income level, the income elasticity of demand is negative and the product is an inferior good.

Formula

Income Elasticity of Demand Ei%\ Change in Quantity Demanded%\ Change in Consumers Income

Percentages are calculated using the mid-point formula, i.e. by dividing the change in quantity by average of initial and final quantities, and change in income by the average of initial and final values of income. Therefore:

Income Elasticity of Demand - Ei = Qf - Qi ÷ Qf + Qi ÷ 2  ÷ If - Ii / If + Ii ÷2

Income Elasticity of Demand - Ei = % Change in Quantity Demanded ÷ % change in consumer Income

<em>Where:</em>

Qf - is the final initial quantities demanded of the product,

Qi - is initial quantities demanded of the product,

If -  is the final incomes of consumer

Ii - is the initial incomes of consumer.

∴

Question

What is her income elasticity of demand for thingamabobs?

Solution:

From the Problem, it can be deduced that -

Qf   -  assume it to be 60 since it is not given

Qi  -  assume it to be 50 thingamabobs?

If -  assume it to be 40% since it is not given

Ii -  30%

Assume the % increase in Income to be                  

∴

Ei = 60 -50/ 60 + 50 ÷ 2  ÷  40 - 30 / 40 + 30 ÷ 2    

Ei = 10/110 /2  ÷ 10/70 ÷ 2

Ei = 10/11 X 70/10 ÷ 2

Ei = 10/55 x 14

Ei = 28/11 = 0.73%    

Therefore the Income elasticity of demand for Adrina is 0.73 %

5 0
3 years ago
The Fed's Federal Open Market Committee
Juliette [100K]

Answer and Explanation:

d. is the Fed's primary monetary policymaking body.

7 0
2 years ago
The income section of a budget will include your
Oksanka [162]
I think the answer is D
3 0
2 years ago
30 POINTS!<br><br> PLEASE HELP ME. CAREER RESEARCH!<br><br> JUST FILL IT IN.
horsena [70]

Answer:

Please find below the links of each site and its description

Occupational outlook handbook outlook Option B

Indeed.com   Option D

Fun works     Option F

College Scorecard Option E

CareerOne Stop    Option C

National Career fairs Option A

LinkedIn     Option G

8 0
3 years ago
Product/service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or
amm1812

Product/service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities.

A company's offers are shaped through the process of product service management, also known as product/service management, in response to customer demand brought on by changes in the marketplace. A product service manager (PSM) foresees consumer needs and then directs the creation of products to address them.

Discovering new product opportunities, maintaining current products, and getting rid of items that have turned into liabilities are all part of product service management. advantages

The following are some advantages of product service management:

  • Provides customers with things they desire to buy, hence improving a business's earnings.
  • With novel and cutting-edge items, it can increase the number of customers
  • When products are properly managed, there is less risk of failure and more potential for success.

The market opportunity is unrealized market potential that enables companies to take advantage of untapped markets.

Learn more about Product/service management here:

brainly.com/question/28598560

#SPJ4

3 0
11 months ago
Other questions:
  • You own a portfolio that has a total value of $130,000 and a beta of 1.28. You have another $49,000 to invest and you would like
    5·1 answer
  • The worst possible consequence of conflict is ______.
    7·2 answers
  • Is It true technology can help with promotion only In social media
    9·1 answer
  • All parties in the chain of​ _____ of a defective product are​ _____ liable for the injuries caused by that product.
    8·1 answer
  • g Suppose Phil and Miss Kay are the only consumers in the market. If the price is $12, then the market quantity demanded is Ques
    5·1 answer
  • Turquoise Games relies on its employees to provide innovative ideas for new educational products. To foster intrinsic motivation
    10·1 answer
  • The Maroon &amp; Orange Gym, Inc., uses the accrual method of accounting. The corporation sells memberships that entitle the mem
    14·1 answer
  • Adam and Bob are identical twins who attended grammar school through high school together. Adam got a job after high school, and
    6·1 answer
  • Annalise received financial aid offers from two universities.
    13·2 answers
  • According to market technicians, it is time to sell stock in a head-and-shoulders formation when?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!