9 Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $50. The manager asked Kim to price the running shoes with a 60% target gross margin. Kim has priced the running shoes with a 60% markup percentage. Required: 1. What selling price does the manager want? Selling price 2. What selling price has Kim calculated? Selling price 3. If there are 49 running shoes, how much will the store lose in sales if the price is not corrected? Loss in sales

9 Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $50. The manager asked Kim to price the running shoes with a 60% target gross margin. Kim has priced the running shoes with a 60% markup percentage. Required: 1. What selling price does the manager want? Selling price 2. What selling price has Kim calculated? Selling price 3. If there are 49 running shoes, how much will the store lose in sales if the price is not corrected? Loss in sales

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $140. The manager asked Kim to price the running shoes with a 60% target gross margin. Kim has priced the running shoes with a 60% markup percentage. Required: 1. What selling price does the manager want? Selling price $ 250 2. What selling price has Kim calculated? Selling price $ 224 3. If there are 40 running shoes, how much will the store lose in sales if the price is not corrected?
Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $130. The manager asked Kim to price the running shoes with a 60% target gross margin Kim has priced the running shoes with a 60% markup percentage. Required: 1. What selling price does the manager want? Selling price 2. What selling price has Kim calculated? Selling price
Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $170. The manager asked Kim to price the running shoes with a 60% target gross margin. Kim has priced the running shoes with a 60% markup percentage. Required: 1 What selling price does the manager want? 2. What selling price has Kim calculated? Selling price 4 3. If there are 37 running shoes, how much will the store lose in sales if the price is not corrected? Loss in sales
Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $120. The manager asked Kim to price the running shoes with a 60% target gross margin. Kim has priced the running shoes with a 60% markup percentage.Required:1. What selling price does the manager want? 2. What selling price has Kim calculated? 3. If there are 42 running shoes, how much will the store lose in sales if the price is not corrected?
Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $110. The manager asked Kim to price the running shoes with a 60% target gross margin. Kim hes priced the running shoes with a 60% markup percentage Required: 1. What selling price does the manager want? 2. Whet selling price has Kim calculated? 3. If there are 43 running shoes, how much will the store lose in sales if the price is not corected?
José Ruiz starts a company that makes handcrafted birdhouses. Competitors sell a similar birdhouse for $245 each. José believes he can produce a birdhouse for a total cost of $200 per unit, and he plans a 25% markup on total cost. (a) Compute José's planned selling price. (b) Is José's price lower than competitors' price? Complete this question by entering your answers in the tabs below. Required A Required B Compute José's planned selling price. Selling price E per unit Required A Required B >
José Ruiz starts a company that makes handcrafted birdhouses. Competitors sell a similar birdhouse for $385 each. Jose believes he can produce a birdhouse for a total cost of $300 per unit, and he plans a 30% markup on total cost. (a) Compute José's planned selling price. (b) Is José's price lower than competitors' price? Complete this question by entering your answers in the tabs below. Required A Required B Compute José's planned selling price. Selling price per unit
José Ruiz starts a company that makes handcrafted birdhouses. Competitors sell a similar birdhouse for $265 each. Jose believes he can produce a birdhouse for a total cost of $225 per unit, and he plans a 20% markup on total cost. (a) Compute José's planned selling price. (b) Is José's price lower than competitors' price? Complete this question by entering your answers in the tabs below. Required A Required B Compute José's planned selling price. Seling price per unit (Required A Required B >
Zack wants to sell five items that cost him $1.30, $2.40, $6.60, $13, and $15.70. He wants to make a profit of 60% of the cost. Create a function s(c) that you can use to determine the selling price of each item, and then use the function to calculate each selling price. (Round your answers to the nearest cent.) s(1.30) = $ s(2.40) = $ s(6.60) = $ s(13) = $ s(15.70) = $
a retailer wants to add a line of bike carriers to his sports department and plans to sell one model at $39.99. If he can buy a good product for $32.50 less 20%, will he be able to get his usual markup of 42% on the selling price and sell the carrier at the price he set?
A buyer plans to sell a certain group of shirts in his store for $24 each. He needs to achieve a 45% markup over his cost . What should he pay his supplier per shirt in order to meet his goal ? (Round to the nearest cent.)
A clothing company has determined that if the price of a T-shirt is K40, then 150 will be demanded by T-shirt wearers. When the price is K45, then 100 T-shirts are demanded by T- shirts wearers.(a) Find the price-demand equation, assuming that it is linear.(b) Find the revenue function.(c) Find the number of items sold that will give the maximum revenue. What is the maximum revenue?(d) What is the price of each item when maximum revenue is achieved?