Musik Corporation uses a 140% markup on total cost and recently computed a selling price of $1,560 for a particular product. On the basis of this information, the product's total cost is:
A) $650.00.
B) $910.00.
C) $1,114.29.
D) $2,184.00.
E) None of the answers is correct.

Question

Quizplus · Accepted Answer

Markup = 140% of total costSelling price = $1,560Total cost = Selling price / (1 + Markup rate)Total cost = $1,560 / (1 + 140%)Total cost = $1,560 / 2.4Total cost = $650

Musik Corporation Uses a 140% Markup on Total Cost and Recently