Front Range Cabinet Distributors in Colorado Springs, Colorado, sells to its contractors with a 32% markup on cost. If the selling price for cabinets is $9,357, what is the cost to contractors based on cost?
x + .32x = 9,357
1.32 x = 9357
Divide both sides by 1.32 to find the actual cost.
Well, it seems like the Front Range Cabinet Distributors in Colorado Springs is really trying to make a "cabinet buck" or should I say, "cabinet buckeroos"!
To calculate the cost to the contractors based on cost, we need to first find the original cost before the markup. Let's do some math magic!
If the selling price is $9,357 and there is a 32% markup on cost, we need to backtrack and find the original cost.
So, we can set up the equation:
Cost + Markup = Selling Price
Now, let's plug in the given values:
Cost + 0.32 * Cost = $9,357
Simplifying that equation, we get:
1.32 * Cost = $9,357
To find the cost, we can divide both sides of the equation by 1.32:
Cost = $9,357 / 1.32
Calculating that, we get:
Cost = $7,087.50
So, based on cost, the cost to contractors would be approximately $7,087.50.
Now it's time for those contractors to make their kitchens and cabinets shine, and hopefully, it'll be a cabinetacular success!
To find the cost to contractors based on cost, we can use the formula:
Cost to contractors = Selling price / (1 + Markup%)
In this case, the Markup% is 32%. Therefore, we can calculate the cost to contractors as follows:
Cost to contractors = $9,357 / (1 + 0.32)
Cost to contractors = $9,357 / 1.32
Cost to contractors ≈ $7,082.95
Therefore, the cost to contractors based on cost is approximately $7,082.95.
To solve this question, we need to find the cost to contractors based on the given selling price and the markup percentage.
Let's assume the cost to contractors is represented by 'C'.
The markup percentage is given as 32%. This means that the selling price includes a markup of 32% of the cost.
To find the cost, we can use the following formula:
Selling Price = Cost + Markup
In this case, the selling price is $9,357 and the markup is 32% of the cost. So we can write the equation as:
$9,357 = C + 0.32C
To simplify this equation, we combine like terms:
$9,357 = 1.32C
Next, we isolate 'C' by dividing both sides of the equation by 1.32:
C = $9,357 / 1.32
Using the calculator, we find that C is approximately $7,095.45.
Therefore, the cost to contractors based on cost is approximately $7,095.45.