Haverty's Furniture bought a deluxe mattress for $530. The initial price on the mattress was $1100, but it was sold for $950. What were the initial and maintained markups, respectively?

51.8% and 44.21%

Explanation:

The computation is shown below:

Initial markup = (Original price - initial price) ÷ (Original price)

= ($1,100 - $530) ÷ ($1,100)

= $570 ÷ $1,100

= 51.8%

And, the maintained markup is

= (Sale price - cost price) ÷ (Sale price)

= ($950 - $530) ÷ ($950)

= $420 ÷ $950

= 44.21%

The markup always expressed in percentage forms

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total

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