Epicure Market prepares fresh gourmet entrees each day. On Wednesday, 80 baked chicken dinners were made at a cost of $3.50 each. A 10% spoilage rate is anticipated. At what price should the dinners be sold to achieve a 60% markup based on selling price?
price of the dinner is $9.72
. Using the price per dinner that you determined in the previous question, calculate the following. If Epicure offers a $1-off coupon in a newspaper advertisement, what markdown percent does the coupon represent? (Round percent to the nearest tenth.)
To determine the markdown percent represented by the $1-off coupon, we first need to find the original selling price of the dinner without the coupon. Let's walk through the steps:
1. Start with the price of the dinner without the coupon. In this case, we know the price of the dinner is $9.72.
2. Subtract the $1 discount from the original price: $9.72 - $1 = $8.72.
3. Calculate the markdown amount by subtracting the new price from the original price: $9.72 - $8.72 = $1.
4. To find the markdown percent, divide the markdown amount by the original price and multiply by 100: ($1 / $9.72) * 100 ≈ 10.28%.
Therefore, the $1-off coupon represents a markdown percent of approximately 10.28%.