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anygoal [31]
3 years ago
15

Erica's Country Furniture sells wooden chairs for $179.49. It buys the chairs from a craft shop for $87.49 each. Its overhead ra

te is 28%. What is the net profit rate for each chair?
Business
1 answer:
mamaluj [8]3 years ago
4 0

Answer:

60.28%

Explanation:

The selling price per chair = $179.49

buying price per chair = $87.49

the overhead rate is 28%

Actual overheard = 28% x $87.49

=28/100 x 87.49

=0.28  x 87.49

=$24.4972

total cost price per chair =  $87.49 + $24.4972

=$111.98

profit per chair

= $179.49 - $111.98

=67.51

Profitability rate = 67.51/111.98 x 100

=60.28%

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