Figures Online Action
Candy Store Profit
As manager of the Cavalier Candy Shop, you’re putting together a price list for your store’s homemade confectionery. These are the items you’re offering, followed by the cost of the materials involved in making each piece:
You sell these items for $1.25, $0.75, $1.70, and $2.50 respectively.
- English toffee, $0.12
- Caramel, $0.05
- Chocolate-covered raspberries, $0.35
- Chocolate-covered strawberries, $0.25
If you sell 1,000 of each item in a given month, and have fixed expenses for that month of $3,000, what would your net profit be?
Candy Store Markup
At the Cavalier Candy Shop, you offer a few products that you purchase from a wholesaler. They include:
- Candied cherries (wholesale cost: $1.20 per package)
- Chocolate golf balls (wholesale cost: $0.35 a piece)
- Chocolate coins (wholesale cost: $0.75 per bag)
- Candy straws (wholesale cost: $1.25 per package)
Assuming you want to end up with a 40% markup on retail, what should your prices be for each of the items?
Visit a local electronics store and conduct research about MP3 on the Internet. Notes the different prices.
What would the retail price be for a portable MP3 player that costs $75 to manufacture and that has a 25% markup on retail?