Assume it costs Lady Marion Seafood, Inc. $30 to each catch, process, freeze, package, and ship 5 pound packages of Alaskan Salmon. It uses a 60 percent markup on its salmon products and charges customers $48 for a postage-paid vaccum-sealed package. What type of pricing Lady Marion Seafood use

Question

Business

Ruby Edwards

9 July, 01:50

Assume it costs Lady Marion Seafood, Inc. $30 to each catch, process, freeze, package, and ship 5 pound packages of Alaskan Salmon. It uses a 60 percent markup on its salmon products and charges customers $48 for a postage-paid vaccum-sealed package. What type of pricing Lady Marion Seafood use

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Fiona Caldwell · Answer 1

Standard markup pricing

Explanation:

Standard markup is a quick and easy way to find out how much you pay for your goods or services.

After calculating the actual cost of the product, the seller or business owner adds a percentage of the actual cost of the product to arrive at its selling price.

so here

Actual cost = $30

Markup = 60% of actual cost

Markup = 0.6 * $30

Markup = $18

so selling price is

selling price = $ (30 + 18)

selling price = $48