Compute for all the expenses acquired in making the product
Total Cost of materials
Labor cost
Subtotal
101.00
30.00
+
Compute for the markup price
Subtota
Markup (20%
Markup price
x
0.20
Add Computed markup price on the total of expenses
Subtotal
Markup price
Selling Price
Share
Answer:
other words, it is the added price over the total cost of the good or service. Understanding markup is very important for establishing a pricing strategy. ... For example, if a product costs $10 and the selling price is $15, the markup percentage ... Step 2: Determine the selling price by using the desired percentage of 20%.
Explanation: