~PLEASE HELP ASAP OFFERING 25 POINTS PLEASE ANSWER ALL QUESTIONS~
Use these equations to help you with the problems
Cost = Selling Price - Markup
Markup = Selling Price - Cost
Net Profit = MArk up - Overhead
Net Profit = Selling Price - Cost - Overhead
Overhead = Selling Price X Overhead Percent

Question 1) Nakesha Sporting Goods operates on a 45% overhead based on the selling price. This results in an overhead of $65.34 on the newest version of an air hockey game set. If the air hockey game set costs Nakesha Sports $49.32, find the net profit to the nearest cent. (Hint: Find the selling price from the overhead percent. Then subtract costs and overhead from the selling price.)

Question 2) ABE Software creates customized software that sells for $3,816,981.10 total. ABE Software’s cost is $1,723,000.00 and overhead expenses are estimated at 47% of the selling price. What is ABE Software’s net profit to the nearest dollar?
A) $1,284,981
B) $150,000
C)$300,000
D)$600,00

Question 3) Suppose overhead is estimated to be 40% of an item's selling price and markup is $30.00. If the cost is $25.00, which of the following is true?
A)Overhead - (0.4 X Selling Price) = Cost
B) Net Profit = $30.00 - 0.4 X Selling Price
C)$30.00 = (0.4 X Selling Price)
D) $30.00 = (0.4 X Selling Price) + Mark Up

Respuesta :

Q1: Rearranging the last of the offered equations, you find

... selling price = overhead/(overhead percent) = $65.34/0.45 = $145.20

Then the net profit is

... net profit = selling price - cost - overhead = $145.20 - 49.32 - 65.34 = $30.54

Q2: Using the same net profit equation, you have

... net profit = selling price - cost - 0.47×selling price = 0.53×selling price - cost

... net profit = 0.53×$3,816,981.10 - 1,723,000.00 = $300,000

Q3: The applicable equation is

... net profit = markup - overhead

This matches selection ...

... B) Net Profit = $30.00 - 0.4 X Selling Price