The markup percentage on total cost for the company's product is
A)21.0%
B)22.7%
C)15.8%
D)24.0%

Question

Quizplus · Accepted Answer

To find the markup percentage on total cost, we need to divide the markup amount by the total cost and multiply by 100. In this case, the markup amount is $22.70 ($142.30 - $119.60) and the total cost is $119.60, so the markup percentage on total cost is:

($22.70 / $119.60) x 100% = 0.190 x 100% = 19.0%

Therefore, the best choice is B, which is closest to 19.0%.

The Markup Percentage on Total Cost for the Company's Product