mpts Question 12 1 pts A manufacturer distributed a new smart thermostat system

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mpts Question 12 1 pts A manufacturer distributed a new smart thermostat system through wholesalers and retailers. The retail selling price was $785 and the wholesale price was $368. The manufacturers selling price was $188 and the manufacturing cost was $102. Using the cost based method use your work-sheet to determine the mark-up percentages for the retailer. Round up to the second decimal point. Do NOT enter dollar or percent What is the mark up percentage for the retailer (cost based)? s Previous Quiz saved at 4:12pm Submit Quiz

Explanation / Answer

I guess the retailer buys the product from wholesaler and then sells it. In that case,

Cost Price for Retailer = 368

Selling Price for Retailer = 785

Mark Ratio = SP/CP = 785/368 = 2.1331 = 213.31%

Mark up Percentage = 113.31%

Now suppose the reailer buys from Manufacturer directly,

Cost Price for Retailer = 188

Selling Price for Retailer = 785

Mark Ratio = SP/CP = 785/188 = 4.1755 = 417.55%

Mark up Percentage = 317.55%

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