Question: 1. Why do many department stores seek a markup of about 40 percent when some discount houses operate on a 20 percent markup!
2. A producer distributed its riding lawnmowers through wholesalers and retailer. The retail selling price was $800. and the manufacturing cost to the company was $312. The retail markup was 35 percent and the wholesale markup 20 percent.
(a) What was the cost to the wholesaler! To the n:tailet!
(b) What percentage markup did the producer take?