Reference no: EM133056985

Question 1 - Zhang buys sculptures from Toronto and sells them in her studio in Vancouver. He purchases the sculptures from a gallery in Toronto for $5,000, less discounts of 20% and 9%. His overhead expenses are 8.5% on the cost and he would like to make a profit of 40% on the cost of the sculptures. Calculate the following:

a. Regular selling price of the sculptures.

b. Zhang's profit or loss if he offers a markdown of 21%.

c. Maximum markdown rate Zhang can offer to sell at break-even price.

Question 2 - A store in Vancouver has operating expenses of 20% of the selling price and the operating profit is 45% of the selling price. During a sale, their watches were marked down by 10%. What is the profit or loss at the sale price if they purchased the watches at $657 each?

Express the answer as a positive number for profit and negative number for loss, rounded to the nearest cent

Question 3 - Kelsey imported a product and marked it up by 45% of the cost. The amount of markup was $625.

a. What was the selling price of the product?

b. What was the markup as a percentage of the selling price?

Question 4 - If the markup on an item is 35.00% of its selling price, calculate the markup as a percentage of the cost of the item.