Thank you for that insightful lecture. In answering the "b" part of the question, it then means that we must find the target cost even if we were not asked to or is there another way?
its just used to establish proportion. If its easier treat it as if your cost being 100% and markup 50%. If cost+ markup = selling price, here selling price is 150%. So your cost to selling price proportion in 100/150
Thank you for that insightful lecture.
In answering the "b" part of the question, it then means that we must find the target cost even if we were not asked to or is there another way?
thanks for the lecture but please in answering the a part will the mark-up not be added in ascertaining the cos of production
Good Stuff
Thanks 💞
Thank you 🙏
Thank you for your comment :-)
I think u should be showing questions as well
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From where cost 100 and they did not mention in Q!??? @open-tuition
its just used to establish proportion. If its easier treat it as if your cost being 100% and markup 50%. If cost+ markup = selling price, here selling price is 150%. So your cost to selling price proportion in 100/150
Thanks 👍