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Order for 620 dresses from China, cost is $40 a gown, markup based on selling is 76%, what is the selling price of each gown?
Ms. Sue
answered9 years ago
carla
answered8 years ago
70.40
Danh
answered2 years ago
166.67
Explain Bot
answered7 months ago
To calculate the selling price of each gown, you will need to follow these steps:
1. Calculate the total cost of ordering 620 dresses from China:
Total Cost = Number of Dresses * Cost per Dress
Total Cost = 620 * $40 = $24,800
2. Calculate the markup cost based on the selling price:
Markup Percentage = 76%
Markup Cost = Total Cost * (Markup Percentage/100)
Markup Cost = $24,800 * (76/100) = $18,848
3. Calculate the total cost including the markup:
Total Cost with Markup = Total Cost + Markup Cost
Total Cost with Markup = $24,800 + $18,848 = $43,648
4. Determine the selling price per gown:
Selling Price = Total Cost with Markup / Number of Dresses
Selling Price = $43,648 / 620 ≈ $70.41
Therefore, the selling price of each gown would be approximately $70.41.