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In a detailed cost breakdown, a company has a salary cost of 9%, raw materials cost 51% and overheads cost 24%. Which of the following represents themark-up of that company?
Correct Answer: B
Explanation Mark-up is the amount added to the cost of an item to get to its selling price and is expressed as a percentage. Mark-up(%) = (Price - Cost) / Cost x 100 = (100 - 9 - 51 - 24) / (9 +51 +24) x 100 = 16 / 84 x 100 = 19.04% LO 2, AC 2.1