Answer:
To achieve the planned markup percent, she can pay for each shirt, the price of:
$18.85
Explanation:
a) Data and Calculations:
Number of blouses to retail at $15 each = 150
Total revenue from blouses = $2,250 (150 * $15)
Number of shirts to retail at $20 each = 80
Total revenue from shirts = $1,600 (80 * $20)
Total sales revenue = $3,850
Average markup = 50.5%
Therefore, the cost of the blouses and shirts = $3,850/1.505 = $2,558
If the cost of blouse = $7 each, the total cost of blouses = $1,050 (150 * $7)
Therefore, the cost of shirts will be equal to $1,508 (2,558 - $1,050)
Then, the cost of each shirt will be equal to $18.85 ($1,508/80).
