Markup on total cost %

jmh

Hello,

Can someone please explain to me how to calculate the markup on total cost % - I have attached the question.

Thank you

dumutroba

Mark up on total cost is exactly that, an increase(up) on cost to ensure profit will be made
For example cost of sales (100%)+mark up (20%) = turnover 120%
So knowing the sales and cost of sales will help us find the mark up %
Total cost of sales (fixed + variable) £14710150 and Turnover £16800000
Substitute in the formula to get £2089850
To find what percentage is that of cost : 2089850/14710150*100=14.21 rounded up

jmh

thank you,

I have one more question - I have attached the question. I am struggling to calculate the Inventory holding period. The answer is 148 days and i get 147. I would appreciate if you could explain where I am going wrong. I calculated the average of the inventory first.

thank you

dumutroba

I am sorry but I don't see the question

jmh

what about now?

jmh

oh dear i will resend properly - sorry about this,