Math Problem Statement
Par Putters Company sells golf balls for $32 per dozen. The store's overhead expenses are 34% of cost and the owners require a profit of 24% of cost. (a) For how much does Par Putters Company buy one dozen golf balls? (b) What is the price needed to cover all of the costs and expenses? (c) What is the highest rate of markdown at which the store will still break even? (d) What is the highest rate of discount that can be advertised without incurring an absolute loss?
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Profit and Loss
Percentage Calculation
Formulas
Selling Price (S) = Cost Price (C) + Overhead (34% of C) + Profit (24% of C)
Markdown = ((S  Breakeven Price) / S) × 100
Discount = ((S  C) / S) × 100
Theorems

Suitable Grade Level
Grades 1012
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