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Hey /biz/ I'm stumped on this question and i have no idea how to go about it. Can anyone here help an anon out?
Sports Caps Co. purchases 2000 hats at a cost of $7.50 apiece. Their total
desired revenue is the result of a 60% markup on the total cost. In addition, it
is estimated that 2% of the caps will be slightly damaged but sellable at $4
apiece, while 5% of the caps turn out to be unsellable, what should be the
cost per regular-priced cap in order to reach the desired revenue?
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>>1809913
$12.55?
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>>1809923
Your guess is as good as mine, anon. Thank you
Anyone else have any input on this?
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>>1809923
$12.42***
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>>1809928
Any chance you can explain or show the work how you got that answer.
Thank you very much by the way i really appreciate it, anon.
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>>1809928
$12.82 final answer.
Initial --->
2000 * $7.50 = $15000
60% Markup --->
$15000 + $9000 = $24000
2% at $4 --->
2000 * 0.02 = 40
40 * $4 = $160
$24000 - $160 = $23840
5% no sell--->
2000 * 0.05 = 100
leaving 1860 normal hats
1860($x)+($160)=$24000
1860($x)=$23840
x=$12.82
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>>1809948
You are a savior, anon. Thank you very much!
>>
>>1809913
2000 hats x $7.50 = total cost of $15,000
You want a 60% markup on the total cost, so total revenue should be $24,000
2000 hats
-100 unsellable hats
-40 damaged hats
=
1860 regular priced hats.
You have to sell 40 hats for $4, that = $160
To get $24k you need $23,840 more dollars
$23,840 / 1860 hats = $12.8172
Each hat is $12.82
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