2,400 bushels of corn were purchased at 5 per bushel. The desired markup is 35 based on selling price, but 25 spoilage is expected. What should the selling price per bushel be? (Round to the nearest cent)
Q. 2A tax based on the retail selling or rental price of tangible personal property, collected by the retailer at the time of purchase, and paid to the state or local government is known as sales tax.
Indicate whether the statement is true or false
Q. 3The wholesale cost of a chair is 120. The original markup was 46 based on selling price. Find the final sale price after the following series of price changes: a markdown of 30, a markdown of 11, and a markup of 5. (Round each selling price to the nearest cent)
Q. 4The imposition of a levy or charge by a government unit to provide financing for public services is called insurance.
Indicate whether the statement is true or false
Q. 5An electronics store usually sells 18 remote control devices per week at a retail price of 12.49. This week the manager put the remotes on sale for a markdown of 20, and sold 25 of them. How much more revenue was earned this week by having the sale?
Q. 6Jenkins Corporation had net income before taxes of 10,975,000. What was their net income after taxes? (Use Exhibit 18-6 from your text)
Q. 7Dylan's Bicycle Shop offers a new bicycle on sale for 259.92 after a 10 markdown. What was the cost of the bicycle to Dylan if the markup was 30 based on the cost? (Round to the nearest cent)
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