Final Answer:
Markup: $56.00, Overhead: $21.32, Profit: $34.68, Not yet markup rate: 46.15%, Markup rate on selling price: 51.85%.
Step-by-step explanation:
The markup is calculated by subtracting the cost from the selling price, resulting in a markup of $56.00. Overhead, representing expenses, is determined as 41% of the cost, amounting to $21.32. The profit realized on the sale is the difference between the selling price and the sum of cost and overhead, equating to $34.68. The rate of Not yet markup based on cost is found by dividing the markup by the cost, yielding 46.15%.
The rate of markup based on selling price is obtained by dividing the markup by the selling price, resulting in a rate of 51.85%. The equation S=C+E+P represents the selling price (S) as the sum of cost (C), expenses (E), and profit (P). In this context, it signifies the breakdown of the selling price into cost, overhead, and profit components. This analysis provides a comprehensive understanding of the financial aspects of the sale, crucial for effective pricing strategies and business decision-making.