Answer:
=5, 011.46
Explanation:
cost of materials : $ 2,415
cost of labor: $ 1,832
Total cost; ( $ 2,415+$ 1,832)= $ 4,247
Add 18 percent mark-up = 4247*1.18
=5, 011.46
Answer:
$5011.46
Explanation:
Charge or selling price is the price at which a good or service is offered for sale by a seller to the buyer.
The components of a selling price are direct labor , materials and expenses cost ,selling and distribution expenses ,factory cost , other production related expenses and the profit margin.
To arrive at the profit margin , a certain percentage of the total cost is added .
So in the case above , 18% of the total cost of $4247 which is $764.46 is added to the cost to arrive at the selling price of $5011,46.
