Asked by Tatem Fischer on May 31, 2024
Verified
The Annapolis Rotary Club sells hot dogs for $1.95 each at the annual Annapolis Fall Fair. The Rotary Club buys wieners at $3.95 per package of 10 wieners, and hot dog buns at $2.90 per dozen. It costs $78 for enough condiments for 1,000 hot dogs. What are the Rotary Club's rate of mark-up on selling price and rate of mark-up on cost?
Annapolis Rotary Club
A service organization located in Annapolis that is part of the global Rotary Club network, focusing on community service and international projects.
Condiments
Substances such as salt, pepper, mustard, and mayonnaise that are added to food to enhance flavor.
Mark-up
Extra pricing over the cost of goods aiming to take care of overheads and profit.
- Calculate the augmentation (markup) by analyzing selling price relative to cost.
- Explore the implications of ongoing business expenses on pricing tactics and profit accomplishments.
Verified Answer
CH
Learning Objectives
- Calculate the augmentation (markup) by analyzing selling price relative to cost.
- Explore the implications of ongoing business expenses on pricing tactics and profit accomplishments.