Sales

What is the selling price?

• The amount a company pays for a product

• The amount a company sells a product for

• The difference between what a company pays and sells a product for

• How long a product is in inventory

What is the cost?

• The amount a company pays for a product

• The amount a company sells a product for

• The difference between what a company pays and sells a product for

• How long a product is in inventory

What is the markup?

• The amount a company pays for a product

• The amount a company sells a product for

• The difference between what a company pays and sells a product for

• How long a product is in inventory

How do you find markup?

• Selling price - cost

• Cost - selling price

• Selling price + cost

• Cost + selling price

A company buys a table for $50. They then sell the table for $75. What is the markup?

• $75

• $125

• $25

• $50

When finding markup rate based on selling price, you do markup divided by _____

• Selling price

• Cost

When finding markup rate based on cost, you do markup divided by _____

• Selling price

• Cost

A teddy bear has a selling price of $5 and markup of $1.50. Find the markup rate based on selling price

• 3.33%

• 333%

• 0.3%

• 30%

What is net profit?

• Markup - overhead

• Overhead - markup

• Selling price - cost

• Cost - selling price

If a product has a selling price of $30 and an estimated overhead of 15%, what are the overhead expenses?

• $450

• $45

• $4.50