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12. a. Williams Sonoma took the following markdowns: 24 crepe pans, originally priced at $29.00 each, new price...

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Question

Accounting

12.

a.

Williams Sonoma took the following markdowns:

  • 24 crepe pans, originally priced at $29.00 each, new price of$13.00 each
  • 21 ceramic baking pans, originally priced at $50.00 each, newprice of $21.00 each
  • 29 cookbook holders, originally priced at $18.00 each, newprice of $8.00 each
  • 27 copies of their signature grilling cookbook, originallypriced at $21.00 each, new price of $10.00 each

Find the total markdown taken on this merchandise.

a.

$1615.00

b.

$1580.00

c.

$1609.00

d.

$1618.00

e.

$1559.00

f.

None of the above.

b.

At a furniture store's clearance center, 33 recliner chairs weresold. All 33 recliners were originally marked at $699.00 and soldat the clearance price of $289.00. Find the total markdown dollarstaken.

a.

$13571.00

b.

$13549.00

c.

$13565.00

d.

$13530.00

e.

$13559.00

f.

None of the above.

c.

A buyer of women's jewelry purchased a line of earrings toretail at $51.50 each. The manufacturer has offered these earringsto the retailer at a cost of $9.00 each. Determine the markuppercentage.

a.

80.62427184%

b.

84.72427184%

c.

82.52427184%

d.

84.12427184%

e.

80.22427184%

f.

None of the above.

Answer & Explanation Solved by verified expert
3.8 Ratings (673 Votes)

12
a Total Markdown taken on the merchandise
Items Original price New Price Markdown Units Total Markdown
Crepe pans $29 $13 $16 24 $384
Ceramic Baking pans $50 $21 $29 21 $609
Cookbook holders $18 $8 $10 29 $290
Signature grilling cookbook $21 $10 $11 27 $297
Total $1,580
b) $1580
b Total dollar markdown taken
Originally marked price $699
Clearance sale price $289
Markdown per chair $410
Chairs sold 33
Total dollar markdown taken $13,530 (410 x 33)
d) $13530
c Markup percentage
Retail price $51.50
Cost to retailer $9
Markup dollar $42.50 (51.50-9)
Markup percentage 82.52427184% (42.50/51.50 x 100)
c) 82.52427184%

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