ke the highest scon tempts Question 6 1 pts A manufacturer distributed a new sma

Question

ke the highest scon tempts Question 6 1 pts A manufacturer distributed a new smart thermostat system through wholesalers and retailers. The retail selling price was $721 and the wholesale price was $325. The manufacturers selling price was $198 and the manufacturing cost was $82. Using the selling-price based method use your work-sheet to determine the mark-up percentages for the wholesaler Round up to the second decimal point. Do NOT enter dollar or percent signs. What is the mark up percentage for the wholesaler (sales price]based)? Previous Next

Explanation / Answer

The question asks for markup percentage for wholesaler only. Now, given from the problem, the wholesaler purchases the product from the manufacturer at $198 and sells it for $328 to the retailer. We can ignore the retail price and the manufacturing cost as they are not relevant to the wholesaler.

To calculate markup percentage, we need to first find the profit.

Profit = Selling price - Cost price = $328 - $198 = $130

The markup percentage is calculated by

Markup percentage = ( Profit / Cost price ) x 100 = (130/198) x 100 = 65.65%

You should enter 65.65 as your answer.

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