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28 November, 11:58

Bari Jay, a gown manufacturer, received an order for prom dresses from China. Her cost is $45 a gown. If her markup based on selling price is 69%, what is the selling price of each gown?

(Round your answer to the nearest cent.)

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Answers (1)
  1. 28 November, 15:20
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    The answer is: The selling price is $76.05

    Explanation:

    To calculate the markup we can use the following formula:

    Markup Percentage = Gross Profit / Unit Cost

    where:

    unit cost = $45 markup percentage = 69% gross profit = selling price - unit cost

    69% = gross profit / $45

    69% x $45 = gross profit

    $31.05 = gross profit

    $31.05 = selling price - $45

    selling price = $76.05
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